A UN report has projected steady decline in prices of foodgrains over the next decade, attributing the gradual price fall to increase in overall agricultural production and diversification of dietary choices towards meat and dairy products.

The report, released last week, however, emphasized that prices of foodgrains would not fall below early 2000-levels "despite the advantageous scenario regarding global food pricing".

It noted that additional agricultural production would be driven by use of innovative methods to improve yields in Asia, Europe and North America and by expansion of agricultural area in South America. It also said the low cost of energy during the period will bring down the input (energy and fertilizer) cost of farm production, leading to decline in prices of foodgrains..............Read more

Source: The Times of India