The agricultural sector in China’s Sichuan province has suffered enormous damage estimated at around $6 billion caused by last month’s devastating earthquake, the FAO (UN Food and Agriculture Organisation) said overnight.According to an FAO assessment mission that recently visited Sichuan province, over 30 million people in rural communities have been severely hit, losing most of their assets. Thousands of hectares of farmland were destroyed, millions of farm animals died, houses and... ...Read more »

Agricultural commodity prices should ease from recent record peaks but over the next 10 years they are expected to average well above their mean levels of the past decade, according to the latest Agricultural Outlook from OECD and the UN Food and Agriculture Organization (FAO). OECD Secretary-General, Angel Gurría, is pleading for the breaking down of trade barriers with restrictive trade practices likely to cause greater distress. “The way to address rising food prices is not through protectionism... ...Read more »

International prices of most agricultural commodities have started to decline, but they are unlikely to return to the low price levels of previous years, according to Food Outlook - a production by the UN Food and Agriculture Organisation. “Food is no longer the cheap commodity that it once was. Rising food prices are bound to worsen the already unacceptable level of food deprivation suffered by 854 million people,” said FAO Assistant Director-General Hafez Ghanem. Despite a favourable... ...Read more »