EU CEREALS PRODUCTION RISES 16%, EASING WORLD FOOD SUPPLY FEARS
August 1st, 2008
BY ALAN OSBORN
The world's food situation might not be as bad as feared following a forecast by the EU of a 16% rise in its cereals production this year. The EU's Joint Research Centre predicts a harvest of 301 million metric tons in 2008 thanks to favourable weather and an increase in the farmed area. Best prospects are for sugar beet, durum wheat and maize says the EU. A European Commission spokeswoman said this out-turn would be "positive" for food prices in Europe though much would depend on the level of stocks. "At least this forecast should ...
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