AlHijjah 2, 1434, Oct 7, 2013, SPA -- Although food prices have stabilized recently, they are expected to be volatile over the next few years, the chief of the U.N. Food and Agriculture Organization (FAO) said Monday as a ministerial meeting on global food prices opened in Rome. FAO Director-General Jose Graziano da Silva told the meeting, which coincided with the opening of the Committee on World Food Security (CFS), that this year's session was happening in a less troubled climate than a year ago, when ministers met in response to the third spike in international grain prices in five years. "The outlook for international food commodity markets finally looks calmer this year," Graziano told the meeting, which was attended by about 30 agriculture ministers. "Grain production has rebounded, and higher stock-to-use ratios should bring greater stability to prices." While the FAO cereal-price index is 20 percent below a year ago, Graziano warned against complacency. "International prices have declined, but they are still above their historical levels. Prices are expected to remain volatile over the next years," he said. Graziano urged countries to take advantage of the relative calm to prepare for future market turbulence and find lasting solutions to the issues surrounding food price volatility. The CFS, which runs until October 11, opened amid urgent calls to build more effective links between international polices and the daily needs of millions of the world's most vulnerable people.
