3 June 2013, Rome - Food commodity markets, in particular for cereals, are set to be more balanced in 2013/14, according to FAO’s Food Outlook report published today.
World food imports in 2013 are tentatively forecast at $1.09 trillion, close to last year’s level, but 13 percent below the record of 2011, the biannual report on global food markets said. Higher bills for fish and livestock products are anticipated to offset lower expenditures on most other commodities, especially sugar.
Prospects for abundant domestic crops in the least developed countries (LDCs), low-income food-deficit countries (LIFDCs) and countries in sub-Saharan Africa are expected to limit their import needs.
With the world cereal harvest forecast to surge to a record 2 460 million tonnes in 2013, cereal prices could ease, with markets becoming calmer, Food Outlook said.
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