May 19, 2008

World grain prices reach peak

Global grain price in March this year was at its highest but prices remain stable according to the Food and Agriculture Organisation (FAO).

The FAO pointed out that since April this year, food prices have not increased. The agency also reported in the first two weeks of May, in all markets of futures transaction - with the exception of rice - all food prices show a steady trend.

FAO pointed out that as farmers plant more grain, as well as good weather conditions, the grain price will stop rising and is likely to begin to decline.