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Evolving Agricultural Policies and Markets

Implications for Multilateral Trade Reform

image of Evolving Agricultural Policies and Markets

This report focuses on the significant developments in world agricultural markets and in the policies of major agricultural producing regions since the latest round of WTO negotiations began in 2001. In the past decade, production, prices and trade flows have been transformed and countries have substantially altered their agricultural trade and domestic support policies. The impacts of these policies on global production, trade and welfare (proxied by private household consumption) are assessed along with the effects of possible multilateral trade reform scenarios. The assessments are made through an application of the OECD’s computable general equilibrium model, METRO, in conjunction with the AGLINK-COSIMO outlook model.

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Impacts of current agricultural policies and potential impacts from reform

This chapter explores the impacts of current agricultural domestic support and trade policies on markets and countries along with a number of scenarios looking at both reforms and increases in protection. First, the chapter sets out the modelling approach used in the study. Second, the impacts of current policies on production, trade and the economy are presented. Third, a closer look at the impacts of current policies on individual international agricultural markets and prices is presented. Fourth, the chapter presents possible multilateral reform scenarios, including one of increased protection.

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