A United Nations report says world food prices stayed the same in August. Prices were unchanged after rising sharply in July.
A summer of drought in the United States and Russia has reduced expectations for corn and wheat supplies. As a result, a measure of food prices by the U.N. Food and Agriculture Organization rose 6% in July. But FAO economist Concepcion Calpe says the expected reductions did not get any worse in August.
CONCEPCION CALPE: "We're not in a bad situation, or as bad situation as we were last month because the prospects are not worsening further. And this is already good news."
Ms. Calpe says the FAO price index remains about 10% below its highest level, reached in February 2011. But prices are still twice as high as they were ten years ago.
Demand remains high for food commodities like maize and wheat. The U.N. estimates that more cereal crops will be consumed this year than will be produced. That means markets will have to use some of the supplies that have been kept in reserve. Concepcion Calpe says those reserves have been low for several years.
CONCEPCION CALPE: "And therefore we are very much susceptible to very quick changes because there is very little buffer on which to rely to protect ourselves should there be another bad news on the production front."
She says there will be ups and downs in prices until production meets the level of demand. Still, many experts do not expect a repeat of the crisis of two thousand seven and two thousand eight. Prices jumped, playing a part in civil unrest in several countries.
For one thing, these experts point out that energy prices are lower now. That means producing and transporting food is not as costly. And Gary Ellerts at the United States Agency for International Development says this year's bad weather has not affected another important crop: rice. Mr. Eilerts is head of the agency's Famine Early Warning System.
GARY EILERTS: "Rice is very calm, very nice. Prices are not volatile. There's a large supply. And so, countries that depend on that, that were hurt a great deal in two thousand eight, are not being touched right now."
However, economist Lourdes Adriano at the Asian Development Bank says prices could increase if India stops exporting rice because of a drought.
LOURDES ADRIANO: "If we have a severe monsoon in India and it starts banning again the export of rice, then we will have a major problem. Because as you know, global rice trade is very thin. There are very, very few major exporters."
Prices jumped when India banned rice exports in 2008 during the food inflation crisis.
And that's the VOA Special English Agriculture Report. I'm Jim Tedder.
体坛英语资讯:China to face Malaysia and India at 2019 Sudirman Cup badminton tournament
国内英语资讯:Key takeaways from China Development Forum 2019 on reform, opening-up
国际英语资讯:Syrias return to Arab League not on agenda of Arab summit: spokesman
国际英语资讯:Turkey president says to file issue of Golan Heights to UN
体坛英语资讯:Matildas bound for same base as Socceroos ahead of 2019 FIFA Womens World Cup
People Should Treat Animal Better 人类应当善待动物
体坛英语资讯:Struggling Rayo sack coach Michel after 7 succesive defeats
中年阶段健身与少年阶段健身一样受益
柏林政府下令五年内不得涨房租 违者罚款
国际英语资讯: Russia ready to work with any elected British PM: Putin
国内英语资讯:China unveils new administrative fee cuts from July
新加坡,香港和巴黎登顶生活最昂贵城市榜单
国内英语资讯:Firefighters go all out to save the injured after chemical plant blast
体坛英语资讯:Chinese coach Jia expects more players to show in overseas leagues
体坛英语资讯:Ronaldo wins top scorer trophy at UEFA Nations League Finals
体坛英语资讯:Iheanacho out of Nigeria squad for AFCON
国内英语资讯:Chinese, Irish leaders exchange congratulations on 40th anniversary of ties
国内英语资讯:China Focus: African ministers in Beijing to discuss closer cooperation with China
体坛英语资讯:Analysis: German youngsters around Joshua Kimmich taking over
国际英语资讯:Serbia remembers NATO bombing victims 20 years on
如何明智地解决家庭冲突?
国内英语资讯:China issues standard for community hospital
国际英语资讯: AU Peace and Security Council to gather in Morocco on Monday
娱乐英语资讯:Asian New Talent awards unveiled at Shanghai Intl Film Festival
国内英语资讯:Beijing to promote foreign-related legal services
体坛英语资讯:World champion Gong prevails, Wang shatters Chinas 1500m indoor record
国际英语资讯:Luxury car, jet ski, 2 motorcycles and a crocodile seized in Sydney crime raid
体坛英语资讯:Nadal wins record 12th French Open title over Thiem
体坛英语资讯:NBA to present 2 regular-season games in Mexico
国际英语资讯: Feature: Syrian potter strives to keep craft alive amid war