Javier Blas & Emiko Terazono report on the UN’s Food and Agricultural Organisation (FAO) Food Outlook for the first half of 2013.

The outlook is good compared to last year, with the FAO saying:

“Food commodity markets are set to be more balanced in 2013/14, in particular cereals. The global food import bill is forecast to reach USD 1.09 trillion in 2013, 13 percent below the record of 2011 but close to the 2012 estimate, as higher bills for fish and livestock products are anticipated to offset lower expenditures on most other commodities, especially sugar.” 

See Javier and Emiko’s article for a further breakdown of the food supply outlook.

FT: Record crops to push grain prices lower

http://www.ft.com/cms/s/0/53360da2-d404-11e2-8639-00144feab7de.html#axzz2W6eeAjSb

FAO: Food Outlook 2013a

http://www.fao.org/docrep/018/al999e/al999e.pdf