Bunge Chief Warns Grain Supplies Will Remain Tight, FT Reports

Dec. 29 (Bloomberg) -- Supplies of grain are likely to be tight until well into 2011, according to Alberto Weisser, the chief executive officer of Bunge Ltd., a U.S. company that trades in agricultural products, the Financial Times reported.

In an interview with the newspaper, Weisser predicted price volatility for the next 12 months, while rejecting the increasingly widespread view that food prices will stay high indefinitely.

Assuming normal growing seasons in both hemispheres, Weisser said he expects to see prices “starting to normalize” by 2012, the FT reported.

To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge in London at ckeatinge@bloomberg.net.