OECD-FAO Agricultural Outlook 2014
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OECD-FAO Agricultural Outlook 2014

This twentieth edition of the Agricultural Outlook, and the tenth prepared jointly with the UN Food and Agriculture Organization (FAO), provides market projections to 2023 for major agricultural commodities, biofuels and fish across 41 countries and 12 regions: OECD member countries (European Union as a region), key non-OECD agricultural producers (such as India, China, Brazil, Russian Federation and Argentina) and groups of smaller non-OECD economies in a more aggregated form. This edition includes a special focus on India.

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Table
 

World prices You or your institution have access to this content

OECD
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OECD-FAO Agricultural Outlook 2014 - © OECD 2014

‌A.2World prices
A.2World prices
  Nominal price
‌‌
‌‌
Average
2011/12-
2013/14est
‌2014/15‌
‌2015/16‌
‌2016/17‌
‌2017/18‌
‌2018/19‌
‌2019/20‌
‌2020/21‌
‌2021/22‌
‌2022/23‌
‌2023/24‌
CEREALS
 
 
 
 
 
 
 
 
 
 
 
 
Wheat 1
USD/t
302.9
 
283.8
 
268.4
 
266.8
 
267.7
 
276.0
 
278.7
 
277.8
 
274.9
 
271.0
 
269.4
 
Coarse Grains 2
USD/t
262.0
 
195.0
 
197.9
 
222.2
 
228.6
 
234.0
 
230.6
 
226.0
 
226.2
 
224.9
 
225.2
 
Rice 3
USD/t
442.5
 
381.9
 
356.6
 
395.2
 
400.1
 
407.8
 
409.7
 
412.3
 
409.1
 
401.0
 
390.8
 
Distiller's dry grains 4
USD/t
231.0
 
201.4
 
198.2
 
211.6
 
212.8
 
215.0
 
213.3
 
211.8
 
213.0
 
213.7
 
213.2
 
OILSEEDS
 
 
 
 
 
 
 
 
 
 
 
 
Oilseeds 5
USD/t
567.3
 
511.7
 
493.4
 
494.2
 
507.1
 
518.3
 
518.6
 
519.4
 
521.2
 
523.4
 
522.0
 
Protein meals 6
USD/t
466.3
 
430.3
 
408.4
 
408.8
 
400.1
 
400.2
 
398.5
 
399.8
 
402.9
 
404.3
 
403.8
 
Vegetable oils 7
USD/t
1 036.0
 
900.1
 
918.8
 
937.2
 
953.8
 
981.5
 
991.2
 
1 010.3
 
1 018.1
 
1 030.1
 
1 042.0
 
SWEETENERS
 
 
 
 
 
 
 
 
 
 
 
 
Raw sugar 8
USD/t rse
422.7
 
374.1
 
395.3
 
420.3
 
393.2
 
368.3
 
363.2
 
372.6
 
382.9
 
416.1
 
430.7
 
Refined sugar 9
USD/t rse
529.1
 
479.2
 
490.2
 
514.0
 
497.1
 
466.1
 
456.5
 
465.4
 
474.3
 
501.5
 
518.6
 
HFCS 10
USD/t
565.7
 
440.9
 
449.3
 
476.1
 
484.0
 
493.9
 
501.9
 
508.4
 
517.2
 
526.4
 
522.9
 
Molasses 11
USD/t
171.2
 
177.9
 
181.7
 
189.7
 
180.5
 
171.2
 
167.5
 
165.9
 
166.0
 
170.3
 
168.8
 
MEAT
 
 
 
 
 
 
 
 
 
 
 
 
Beef and veal
 
 
 
 
 
 
 
 
 
 
 
 
Price, EU 12
USD/t dw
4 961.6
 
5 411.7
 
5 606.1
 
5 562.5
 
5 593.2
 
5 168.0
 
5 296.7
 
5 339.2
 
5 325.4
 
5 283.6
 
5 236.1
 
Price, United States 13
USD/t dw
4 308.3
 
4 644.2
 
4 776.4
 
4 817.7
 
4 809.2
 
4 534.5
 
4 602.7
 
4 685.8
 
4 693.2
 
4 753.7
 
4 836.5
 
Price, Brazil 14
USD/t pw
3 243.7
 
2 849.3
 
2 975.1
 
3 105.5
 
3 173.1
 
2 895.7
 
2 900.7
 
2 926.1
 
2 952.6
 
2 933.9
 
2 900.7
 
Pigmeat
 
 
 
 
 
 
 
 
 
 
 
 
Price, EU 15
USD/t dw
2 221.3
 
2 500.2
 
2 428.0
 
2 435.1
 
2 599.6
 
2 509.9
 
2 650.6
 
2 747.3
 
2 791.7
 
2 736.1
 
2 665.8
 
Price, United States 16
USD/t dw
1 949.9
 
1 906.3
 
1 953.8
 
1 869.3
 
1 768.6
 
1 904.2
 
2 108.8
 
2 183.9
 
2 032.4
 
1 935.4
 
1 981.9
 
Price, Brazil 17
USD/t dw
1 566.9
 
1 669.5
 
1 516.4
 
1 600.2
 
1 617.7
 
1 613.7
 
1 705.6
 
1 757.7
 
1 675.7
 
1 757.7
 
1 732.6
 
Poultry meat
 
 
 
 
 
 
 
 
 
 
 
 
Price, EU 18
USD/t rtc
2 609.0
 
2 489.3
 
2 348.0
 
2 398.5
 
2 470.1
 
2 508.2
 
2 517.5
 
2 510.9
 
2 505.1
 
2 483.0
 
2 461.5
 
Price, United States 19
USD/t rtc
1 203.2
 
1 237.7
 
1 114.2
 
1 150.9
 
1 213.9
 
1 257.3
 
1 269.5
 
1 270.3
 
1 266.7
 
1 267.2
 
1 270.6
 
Price, Brazil 20
USD/t rtc
1 465.3
 
1 474.1
 
1 332.8
 
1 383.4
 
1 458.7
 
1 511.4
 
1 528.2
 
1 533.9
 
1 535.3
 
1 542.0
 
1 550.2
 
Sheep meat
 
 
 
 
 
 
 
 
 
 
 
 
Price, New Zealand 21
USD/t dw
4 663.7
 
4 166.8
 
4 215.5
 
4 264.8
 
4 415.6
 
4 385.6
 
4 404.8
 
4 545.6
 
4 604.2
 
4 754.6
 
4 740.8
 
FISH AND SEAFOOD
 
 
 
 
 
 
 
 
 
 
 
 
Product traded 22
USD/t
2 810.2
 
2 791.7
 
2 867.8
 
2 903.3
 
2 925.7
 
3 025.9
 
3 044.7
 
3 208.6
 
3 212.2
 
3 367.0
 
3 368.1
 
Aquaculture 23
USD/t
2 118.6
 
2 149.9
 
2 177.7
 
2 171.4
 
2 239.2
 
2 217.9
 
2 222.9
 
2 335.5
 
2 356.6
 
2 468.0
 
2 484.1
 
Capture 24
USD/t
1 455.3
 
1 498.5
 
1 552.8
 
1 593.9
 
1 632.5
 
1 695.2
 
1 733.6
 
1 817.9
 
1 850.8
 
1 932.6
 
1 967.3
 
Meal 25
USD/t
1 614.1
 
1 674.3
 
1 691.1
 
1 481.8
 
1 489.1
 
1 495.2
 
1 524.6
 
1 610.1
 
1 560.8
 
1 591.1
 
1 616.1
 
Oil 26
USD/t
1 821.2
 
1 843.2
 
1 947.4
 
1 844.1
 
1 879.5
 
1 925.2
 
1 974.4
 
2 153.9
 
2 034.1
 
2 051.7
 
2 072.4
 
DAIRY PRODUCTS
 
 
 
 
 
 
 
 
 
 
 
 
Butter 27
USD/t
3 939.1
 
3 686.1
 
3 538.1
 
3 551.0
 
3 581.1
 
3 569.2
 
3 593.3
 
3 644.0
 
3 629.5
 
3 680.7
 
3 695.0
 
Cheese 28
USD/t
4 174.5
 
4 151.6
 
4 130.8
 
4 222.9
 
4 314.4
 
4 377.3
 
4 466.8
 
4 566.1
 
4 633.4
 
4 755.7
 
4 851.4
 
Skim milk powder 29
USD/t
3 740.4
 
3 864.6
 
3 706.0
 
3 701.8
 
3 731.7
 
3 758.3
 
3 815.7
 
3 828.8
 
3 799.5
 
3 787.6
 
3 806.3
 
Whole milk powder 30
USD/t
3 936.6
 
4 389.9
 
4 158.9
 
4 178.3
 
4 188.8
 
4 214.1
 
4 253.8
 
4 274.5
 
4 267.9
 
4 279.7
 
4 292.7
 
Whey powder wholesale price, United States 31
USD/t
1 240.9
 
1 236.0
 
1 209.3
 
1 240.5
 
1 257.4
 
1 248.9
 
1 243.5
 
1 233.6
 
1 188.8
 
1 196.4
 
1 204.4
 
Casein 32
USD/t
8 735.0
 
8 882.8
 
8 829.2
 
8 808.0
 
8 899.2
 
8 923.1
 
9 043.6
 
9 120.5
 
9 088.7
 
9 127.0
 
9 216.0
 
BIOFUEL
 
 
 
 
 
 
 
 
 
 
 
 
Ethanol 33
USD/hl
70.9
 
63.6
 
66.1
 
69.9
 
70.5
 
73.9
 
75.5
 
76.0
 
77.9
 
78.9
 
82.1
 
Biodiesel 34
USD/hl
120.7
 
112.2
 
111.3
 
119.0
 
123.8
 
122.9
 
119.4
 
121.8
 
122.5
 
125.3
 
128.7
 
COTTON
 
 
 
 
 
 
 
 
 
 
 
 
Cotton 35
USD/t
2 005.4
 
1 681.9
 
1 641.3
 
1 607.1
 
1 744.9
 
1 747.0
 
1 803.1
 
1 913.7
 
2 000.6
 
2 084.1
 
2 131.2
 
A.2World prices(cont.)
  Real price
‌‌
‌‌
Average
2011/12-
2013/14est
‌2014/15‌
‌2015/16‌
‌2016/17‌
‌2017/18‌
‌2018/19‌
‌2019/20‌
‌2020/21‌
‌2021/22‌
‌2022/23‌
‌2023/24‌
CEREALS
 
 
 
 
 
 
 
 
 
 
 
 
Wheat 1
USD/t
265.6
 
240.7
 
223.1
 
217.9
 
214.5
 
216.9
 
214.7
 
209.7
 
203.4
 
196.5
 
191.4
 
Coarse Grains 2
USD/t
230.1
 
165.5
 
164.5
 
181.4
 
183.1
 
183.8
 
177.6
 
170.6
 
167.3
 
163.1
 
160.0
 
Rice 3
USD/t
388.6
 
324.0
 
296.5
 
322.6
 
320.6
 
320.4
 
315.6
 
311.2
 
302.7
 
290.8
 
277.7
 
Distiller's dry grains 4
USD/t
202.6
 
170.8
 
164.8
 
172.8
 
170.5
 
168.9
 
164.3
 
159.9
 
157.6
 
154.9
 
151.5
 
OILSEEDS
 
 
 
 
 
 
 
 
 
 
 
 
Oilseeds 5
USD/t
497.6
 
434.0
 
410.1
 
403.5
 
406.3
 
407.2
 
399.4
 
392.1
 
385.6
 
379.5
 
370.9
 
Protein meals 6
USD/t
408.6
 
365.0
 
339.5
 
333.8
 
320.5
 
314.4
 
306.9
 
301.8
 
298.1
 
293.2
 
287.0
 
Vegetable oils 7
USD/t
909.6
 
763.5
 
763.8
 
765.2
 
764.2
 
771.2
 
763.4
 
762.6
 
753.2
 
746.9
 
740.5
 
SWEETENERS
 
 
 
 
 
 
 
 
 
 
 
 
Raw sugar 8
USD/t rse
371.3
 
317.3
 
328.6
 
343.2
 
315.0
 
289.4
 
279.7
 
281.2
 
283.3
 
301.7
 
306.1
 
Refined sugar 9
USD/t rse
464.6
 
406.5
 
407.5
 
419.7
 
398.3
 
366.2
 
351.6
 
351.3
 
350.9
 
363.6
 
368.5
 
HFCS 10
USD/t
496.7
 
374.0
 
373.5
 
388.7
 
387.8
 
388.0
 
386.6
 
383.8
 
382.6
 
381.7
 
371.6
 
Molasses 11
USD/t
150.1
 
150.9
 
151.0
 
154.9
 
144.6
 
134.5
 
129.0
 
125.2
 
122.8
 
123.5
 
120.0
 
MEAT
 
 
 
 
 
 
 
 
 
 
 
 
Beef and veal
 
 
 
 
 
 
 
 
 
 
 
 
Price, EU 12
USD/t dw
4 350.0
 
4 590.6
 
4 660.3
 
4 541.8
 
4 481.3
 
4 060.5
 
4 079.6
 
4 030.4
 
3 939.9
 
3 831.1
 
3 720.9
 
Price, United States 13
USD/t dw
3 776.0
 
3 939.4
 
3 970.6
 
3 933.6
 
3 853.2
 
3 562.8
 
3 545.0
 
3 537.1
 
3 472.3
 
3 446.9
 
3 437.0
 
Price, Brazil 14
USD/t pw
2 848.1
 
2 417.0
 
2 473.2
 
2 535.7
 
2 542.3
 
2 275.1
 
2 234.1
 
2 208.8
 
2 184.4
 
2 127.3
 
2 061.3
 
Pigmeat
 
 
 
 
 
 
 
 
 
 
 
 
Price, EU 15
USD/t dw
1 946.8
 
2 120.8
 
2 018.4
 
1 988.2
 
2 082.8
 
1 972.0
 
2 041.5
 
2 073.8
 
2 065.4
 
1 984.0
 
1 894.4
 
Price, United States 16
USD/t dw
1 710.1
 
1 617.0
 
1 624.1
 
1 526.3
 
1 417.0
 
1 496.2
 
1 624.2
 
1 648.5
 
1 503.7
 
1 403.4
 
1 408.4
 
Price, Brazil 17
USD/t dw
1 372.2
 
1 416.2
 
1 260.5
 
1 306.6
 
1 296.1
 
1 267.8
 
1 313.6
 
1 326.8
 
1 239.8
 
1 274.5
 
1 231.2
 
Poultry meat
 
 
 
 
 
 
 
 
 
 
 
 
Price, EU 18
USD/t rtc
2 287.8
 
2 111.5
 
1 951.9
 
1 958.4
 
1 979.0
 
1 970.7
 
1 939.0
 
1 895.3
 
1 853.3
 
1 800.4
 
1 749.2
 
Price, United States 19
USD/t rtc
1 053.9
 
1 049.9
 
926.2
 
939.7
 
972.6
 
987.8
 
977.8
 
958.9
 
937.2
 
918.8
 
902.9
 
Price, Brazil 20
USD/t rtc
1 283.2
 
1 250.4
 
1 107.9
 
1 129.5
 
1 168.7
 
1 187.5
 
1 177.0
 
1 157.9
 
1 135.9
 
1 118.1
 
1 101.6
 
Sheep meat
 
 
 
 
 
 
 
 
 
 
 
 
Price, New Zealand 21
USD/t dw
4 094.1
 
3 534.5
 
3 504.3
 
3 482.2
 
3 537.8
 
3 445.8
 
3 392.6
 
3 431.3
 
3 406.4
 
3 447.5
 
3 368.9
 
FISH AND SEAFOOD
 
 
 
 
 
 
 
 
 
 
 
 
Product traded 22
USD/t
2 810.2
 
2 368.0
 
2 384.0
 
2 370.6
 
2 344.1
 
2 377.5
 
2 345.1
 
2 422.0
 
2 376.5
 
2 441.4
 
2 393.4
 
Aquaculture 23
USD/t
2 118.6
 
1 823.7
 
1 810.3
 
1 773.0
 
1 794.1
 
1 742.6
 
1 712.1
 
1 763.0
 
1 743.5
 
1 789.5
 
1 765.3
 
Capture 24
USD/t
1 455.3
 
1 271.1
 
1 290.8
 
1 301.4
 
1 308.0
 
1 331.9
 
1 335.2
 
1 372.3
 
1 369.3
 
1 401.3
 
1 398.1
 
Meal 25
USD/t
1 614.1
 
1 420.3
 
1 405.8
 
1 209.9
 
1 193.1
 
1 174.8
 
1 174.3
 
1 215.4
 
1 154.7
 
1 153.7
 
1 148.4
 
Oil 26
USD/t
1 821.2
 
1 563.5
 
1 618.9
 
1 505.7
 
1 505.9
 
1 512.6
 
1 520.7
 
1 625.9
 
1 504.9
 
1 487.7
 
1 472.7
 
DAIRY PRODUCTS
 
 
 
 
 
 
 
 
 
 
 
 
Butter 27
USD/t
3 456.6
 
3 126.8
 
2 941.2
 
2 899.4
 
2 869.2
 
2 804.3
 
2 767.6
 
2 750.7
 
2 685.3
 
2 668.9
 
2 625.8
 
Cheese 28
USD/t
3 660.4
 
3 521.6
 
3 433.9
 
3 448.0
 
3 456.7
 
3 439.3
 
3 440.3
 
3 446.7
 
3 428.0
 
3 448.4
 
3 447.6
 
Skim milk powder 29
USD/t
3 276.6
 
3 278.1
 
3 080.8
 
3 022.5
 
2 989.9
 
2 952.9
 
2 938.9
 
2 890.2
 
2 811.0
 
2 746.4
 
2 704.8
 
Whole milk powder 30
USD/t
3 448.4
 
3 723.8
 
3 457.2
 
3 411.6
 
3 356.1
 
3 311.0
 
3 276.3
 
3 226.6
 
3 157.6
 
3 103.2
 
3 050.5
 
Whey powder wholesale price, United States 31
USD/t
1 087.0
 
1 048.4
 
1 005.3
 
1 012.9
 
1 007.4
 
981.2
 
957.7
 
931.2
 
879.5
 
867.5
 
855.9
 
Casein 32
USD/t
7 661.7
 
7 534.9
 
7 339.7
 
7 191.7
 
7 130.1
 
7 010.9
 
6 965.4
 
6 884.7
 
6 724.2
 
6 618.0
 
6 549.2
 
BIOFUEL
 
 
 
 
 
 
 
 
 
 
 
 
Ethanol 33
USD/hl
62.3
 
54.0
 
54.9
 
57.1
 
56.5
 
58.0
 
58.2
 
57.4
 
57.6
 
57.2
 
58.4
 
Biodiesel 34
USD/hl
105.9
 
95.2
 
92.5
 
97.1
 
99.2
 
96.6
 
92.0
 
91.9
 
90.7
 
90.9
 
91.5
 
COTTON
 
 
 
 
 
 
 
 
 
 
 
 
Cotton 35
USD/t
1 760.1
 
1 426.7
 
1 364.4
 
1 312.2
 
1 398.0
 
1 372.7
 
1 388.7
 
1 444.5
 
1 480.1
 
1 511.2
 
1 514.5
 
Note: This table is a compilation of price information presented in the detailed commodity tables further in this annex. Prices for crops are on marketing year basis and those for meat and dairy products on calendar year basis (e.g. 09/10 is calendar year 2009).
Average 2011/12-2013/14est: Data for 2013/14 are estimated.
Disclaimer: http://oe.cd/disclaimer
1.
No.2 hard red winter wheat, ordinary protein, United States f.o.b. Gulf Ports (June/May), less EEP payments where applicable.
2.
No.2 yellow corn, United States f.o.b. Gulf Ports (September/August).
3.
Milled 5% broken, f.o.b. Ho Chi Minh (January/December).
4.
Wholesale price, Central Illinois.
5.
Weighted average oilseed price, European port.
6.
Weighted average meal price, European port.
7.
Weighted average price of oilseed oils and palm oil, European port.
8.
Raw sugar world price, ICE contract No11 nearby, October/September.
9.
Refined sugar price,Euronext,Liffe,Contract No. 407 London,Europe,October/September.
10.
United States wholesale list price HFCS-55, October/September.
11.
Unit import price, Europe (October/September).
12.
EU average beef producer price.
13.
Choice steers, 1100-1300 lb lw, Nebraska - lw to dw conversion factor 0.63.
14.
Brazil average beef producer price.
15.
EU average pigmeat producer price.
16.
Barrows and gilts, No. 1-3, 230-250 lb lw, Iowa/South Minnesota - lw to dw conversion factor 0.74.
17.
Brazil average pigmeat producer price.
18.
EU average producer price.
19.
Wholesale weighted average broiler price 12 cities.
20.
Brazil average chicken for slaughter producer price.
21.
Lamb schedule price, all grade average.
22.
World unit value of trade (sum of exports and imports).
23.
World unit value of aquaculture fisheries production (live weight basis).
24.
FAO estimated value of world ex-vessel value of capture fisheries production excluding for reduction.
25.
Fishmeal, 64-65% protein, Hamburg, Germany.
26.
Fish oil any origin, N.W. Europe.
27.
F.o.b. export price, butter, 82% butterfat, Oceania.
28.
F.o.b. export price, cheddar cheese, 39% moisture, Oceania.
29.
F.o.b. export price, non-fat dry milk, 1.25% butterfat,Oceania.
30.
F.o.b. export price, WMP 26% butterfat, Oceania.
31.
Dry whey, West region, United States.
32.
Export price, New Zealand.
33.
Brazil, Sao Paulo (ex-distillery).
34.
Producer price Germany net of biodiesel tariff.
35.
Cotlook A index, Middling 1 3/32", c.f.r. far Eastern ports (August/July).
Source: OECD and FAO Secretariats.

 
 
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