Grain price hike can benefit European, third world growers

Soaring grain prices that sparked protests in several countries could be a good thing for farmers in both Europe and the developing world, the European Union's top agriculture official said Friday.
"I think it is to the benefit of the European agricultural sector and also in the developing world, those countries that have exports, they now earn more money," said EU Agriculture Commissioner Mariann Fischer Boel.
Speaking in Athens after meeting Greek Agriculture Minister Alexandros Kontos, Fischer Boel said better harvests expected in the EU, Ukraine, Russia and Australia this year could bring "more normal" supply levels.