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German grain trading house Toepfer International, a unit of US agribusiness Archer Daniels Midland Co. states that grain and oilseed prices will remain high due to rising grain production for biofuels.
“As simultaneously demand for food and animal feed continues to rise, above all in rapidly developing countries including China and India, all market participants, especially processing companies, must prepare themselves for a long phase of relatively high prices for agricultural commodities.”