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Nestle CEO foresees food price stabilization

Reuters reports that newly named Nestle CEO, Paul Bulcke, believes rapidly rising food prices will stabilize in the near future. He cites droughts, market speculation and booming interest in biofuels as global food variables that will change in favor of lower food prices. Bulcke also believes that food demand from emerging countries will not subside and continue to put pressure on global food supplies.

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