FAO: Global Food Prices To Decline Slightly; Remain Volatile

Posted January 3rd, 2012 at 11:50 am (UTC-5)
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The new head of the U.N.’s Food and Agriculture Organization says food prices may ease a bit this year as demand falls because of a slowing economy.

Jose Graziano da Silva says price declines will not be “drastic,” and says economic turmoil may increase the number of people facing hunger. The FAO says more than 900 million suffer from chronic hunger around the world.

Global food prices hit a peak last February, but have been declining since June. Frustration over high food prices played a role in the civil unrest that grew into the Arab Spring that toppled some governments in the Middle East.

Graziano da Silva spoke Tuesday in Rome. He previously headed Brazil’s effort to end hunger and has been in charge of the FAO’s work in Latin America.