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OECD-FAO Agricultural Outlook 2003

image of OECD-FAO Agricultural Outlook 2003

The ninth edition of the OECD Agricultural Outlook analyses how global and domestic forces are shaping agricultural markets over the medium term. Continuing global economic weakness, compounded by drought-induced production adjustments in some countries, and government support policies are conditioning market outcomes in the near term. The interaction of these factors, together with an expected revival of the global economy in 2004 will help shape OECD and world agricultural markets up to 2008. This book provides valuable information on market trends and medium term prospects for the main agricultural products, including sugar on this occasion. It also shows how these are influenced by government policies and highlights some of the risks and uncertainties that may influence the Agricultural Outlook. Tables provide detailed commodity projections to 2008 for production, consumption, trade, stocks and prices in OECD countries and selected information on other countries, including China, Argentina, the Russian Federation and Brazil.

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Dairy Products

Following the sharp rise in 2000 and 2001, world dairy prices started to fall rapidly as a consequence of high supply and reduced consumption, especially in Asia. By mid-2002 prices had plunged to their rock-bottom levels of the last decade. As demand started to react to very low prices, these started to firm up towards the end of 2002...

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