News

Sugar prices tumbled to a seven- month low on signs of higher output in India, the world’s biggest consumer and second-largest grower.

1 March 2010, Guadalajara, Mexico - The focus of modern and conventional biotechnologies should be redirected so as to benefit poor farmers in poor countries and not only rich farmers in rich countries, FAO said today.

"Modern and conventional biotechnologies provide potent tools for the agriculture sector, including fisheries and forestry," said Modibo Traore, FAO Assistant Director-General, addressing the international technical conference on Agricultural Biotechnologies in Developing Countries in Guadalajara, Mexico.

Global wheat prices may plunge 14 percent in the next few months as new harvests enter the market, or sooner if Russia releases its stockpiles, the nation’s second-largest exporter said.

Soybeans, corn and wheat declined on speculation that a rally in the dollar will erode the appeal of commodities from the U.S., the biggest exporter of the crops.