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BANGKOK, April 29 (Reuters) - Rice prices are expected to ease as leading producing and exporting countries are rushing to boost output, but the market is unlikely to return to levels seen in recent years, the Asia head of the U.N's Food and Agriculture Organization said on Tuesday.
"High prices will be there but current prices are unreasonable," He Changchui, FAO's assistant director-general and regional representative for Asia-Pacific, told Reuters. "I think the current market price has been distorted."
"Many countries are taking quick action to enhance productivity. In the short-term we are hoping that it will ease the market situation. But we should not anticipate that consumers will get rice at those original levels. Prices have remained too low for too long." (Reporting by Sambit Mohanty; Editing By Ovais Subhani) . |
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