OECD, FAO Release Agriculture Outlook 2010-2019
15 June 2010: The Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization of the UN (FAO) have released their sixth Agriculture Outlook, which projects the global markets of key agricultural commodities in order to build consensus on how global agriculture may evolve in the coming decade and the key issues impacting its course.
The report highlights an improved macroeconomic environment for commodity projections from 2009, with growth expected to be stronger and faster in large developing countries than in developed countries. It notes that global agricultural production is anticipated to grow more slowly in the coming decade than in the previous decade, and that production growth in the least developed countries is struggling to keep up with population growth.
The report underscores uncertainty in the biofuel sector, highlighting that the markets depend on government incentives and mandates. It describes the need for governments to create policies that increase confidence in access to food and notes the potential volatility created by uncoordinated policy actions among governments internationally. [Agriculture Outlook 2010-2019 Website]