Syngenta chief executive Michael Mack warned that the current food crisis is
likely to last three to five years. In an interview published in Swiss
economic publication Bilan, the head of the Swiss agrochemicals group said
that the exact timeframe depends on the speed at which stocks return to
normal levels.

Mack noted that "agriculture prices have been stable at an overly low rate
for too long" and that cheap rates have contributed to the current crisis.
However, he added that he does not support in "any way further increases in
prices that we have come to know, as it is mostly speculation."

On a more positive note, Mack said that current high prices will allow
farmers to make necessary investments "once the speculative element has
disappeared. Syngenta, which makes pesticides, herbicides and genetically
modified seeds, has seen first quarter sales jump by some 28 percent to
$3.789 billion amid increasing demand for its products that allow maximising
harvest.

Since late last year, food prices have seen a sharp increase with price
hikes widely attributed to financial speculation. United Nations Secretary
General Ban Ki-moon has previously said that an extra 15-20 billion dollars
per year would be needed to help avoid disaster.

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