MOSCOW, May 30. /TASS/. There can be no food shortage globally and such rumors fuel market prices, head of the Russian Grain Union Arkady Zlochevsky told reporters on Monday.
"What shortage can be the case in point? This is dealing for a rise in prices and leads to real food security threats. No threats of physical supply, presence of food, no concerns regarding the potential resource deficit are present at all and none can be," the expert said.
Experts said earlier than grain reserves worldwide are enough for ten weeks, the head of the Russian Grain Union said. However, according to FAO’s recommendations, inventories should amount to 17% of the consumption level, Zlochevsky said. Therefore, they should be equal to consumption for nine weeks, he noted.
Inventories in Russia go down but only to the six-year minimal level, the expert said. "Inventories, if calculated by balances, will be for 16 weeks and not for 18 weeks as of July 1. I would like to remind that the reserve was for 11 weeks in the season of 2007-2008," he added.