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08 Dec 2011 description

HIGHLIGHTS

  • As the year draws to a close, FAO’s latest estimate confirms a record high global cereal production in 2011, which should be sufficient to cover the expected increase in utilization in 2011/12 and also allow a moderate replenishment of world reserves.

  • International grain prices remained mostly under downward pressure in November, reflecting the confirmation of a strong recovery in production amid deteriorating world economic prospects and a stronger US dollar.