UN agency predicts sharp decline in world cereal stocks

World cereal stocks are expected to decline sharply in 2006, due to a slight decrease in global cereal output and significant growth in utilization, according to the latest forecast by the United Nations Food and Agriculture Organization (FAO), which predicted that food emergencies will continue in a number of countries - these include Somalia, South Africa, Angola and Zimbabwe.

Increased demand is expected to be driven by a recovery in feed use due to a rebound in poultry consumption, FAO said. In addition, the growing demand for ethanol is likely to boost industrial use of coarse grains, particularly maize, the report said.

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