NEW YORK (TheStreet) -- ConAgra Foods (CAG - Get Report), Pilgrim's Pride (PPC - Get Report), Bunge (BG - Get Report), Tyson Foods (TSN - Get Report), Smithfield Foods (SFD) are some food stocks trading at discounts, offering investors bargain opportunities.According to the UN Food and Agriculture Organization (FAO), food prices witnessed unprecedented hikes worldwide, hitting record highs in February -- an eighth consecutive monthly rise. Given this scenario, the following 10 food stocks, trading at deep discounts, offer attractive returns. Besides analysts' buy ratings of 33%-100%, these 10 food stocks are expected to gain up to 99% over the next 12 months with a mean upside value of around 27%, according to analysts polled by Bloomberg. These stocks are selling at a price-to-projected-earnings ratio of 5.8-13.1. In comparison, Kraft Foods ( KFT), Monsanto ( MON), General Mills ( GIS) and Kellogg ( K) have PE multiples of 13.9 to 25.3. Although stocks such as Fresh Del Monte Produce ( FDP), Del Monte Foods ( DLM) and Campbell Soup ( CPB) have price-to-earnings multiples in the range of 10.8-13.7, we did not include them in our list as they have buy ratings of 0%-18% and upsides of only 0%-7%.