The pressures driving grain prices to two-year highs will not subside for at least a year, the head of a leading agricultural trader has said in a warning that deepens short-term worries about food price inflation.
But Alberto Weisser, chief executive of Bunge, rejected a growing view that high food prices are here to stay.
The US-based company is one of the biggest traders of commodities such as soyabeans, giving its executives an inside view into global food markets.
Mr Weisser said tight grain conditions would persist well into next year. “For the next 12 months I think you will see volatility of prices,” he told the Financial Times in an interview at company headquarters in White Plains, near New York....MORE