Global food prices slightly up in March, annual cereal production outlook robust – UN

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UNITED NATIONS, Apr 7 (APP): World cereal production in 2016 is set to reach 2,521 million tonnes, just 0.2 per cent below last year’s and the third-highest on record, the U.N. Food and Agriculture Organization (FAO) said Thursday. Large inventory levels and relatively sluggish global demand mean that market conditions for staple food grains appear stable for at least another season, the agency’s latest Cereal Supply and Demand Brief predicts. According to the FAO Food Price Index released Thursday, overall food prices rose 1 per cent in March on the month, as soaring sugar prices and continued increase in palm oil quotations more than offset plunging dairy product prices.