Friday, October 5, 2012

World food prices rise, stay close to crisis levels: UN



By Catherine Hornby
ROME (Reuters) - World food prices rose in September and are seen remaining close to levels reached during the 2008 food crisis, the United Nations' food agency said on Thursday, while cutting its forecast for global cereal output.
The worst drought in more than 50 years in the United States sent corn and soybean prices to record highs over the summer, and, coupled with drought in Russia and other Black Sea exporting countries, raised fears of a renewed crisis.
Grains prices have retreated in recent weeks due to rapid harvest progress and concerns about weak demand in a slowing global economy.

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