(MENAFN- Kuwait News Agency (KUNA)) The Food and Agriculture Organization (FAO) on Thursday predicted a big hike in world wheat production this year amid stable food prices.
First forecasts for the 2013 wheat harvest point to production increasing to 690 million tonnes, 4.3 percent up on 2012. This would be the second largest crop on record, according to the latest issue of FAO's quarterly Crop Prospects and Food Situation report.
The production hike is expected mostly in Europe, driven by increased
plantings in response to high prices and a recovery in yields in some countries, notably the Russian Federation.
The outlook in the United States, while less favourable because of earlier drought conditions, has improved somewhat over the last few weeks.
Meanwhile, the recently lower prices of wheat and, to some extent, maize
kept the FAO Food Price Index - also published today -- unchanged at 210 points for the second consecutive month in February. That is 2.5 percent, or five points, less than in February 2012, it said.
Since November 2012 the Index has moved within a narrow 210 - 212 point range as increases in the prices of dairy products and oils/fats were largely balanced out by declines in the prices of cereals and sugar, it added.
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