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OECD-FAO Agricultural Outlook 2007

image of OECD-FAO Agricultural Outlook 2007
This thirteenth edition of the annual Agricultural Outlook - and the third prepared jointly with the FAO - provides an assessment of agricultural market prospects based on projections that extend to 2016 for production, consumption, trade, stocks and prices of mainly temperate zone agricultural commodities. These projections are based on specific assumptions regarding global macroeconomic conditions, population growth, national agricultural and trade policies, production technologies, and weather conditions.  It shows how these markets are influenced by economic developments and government policies and highlights some of the risks and uncertainties that may influence market outcomes. In addition to OECD countries, the market projections in the report cover a large number of other countries and regions including the agricultural giants of India, China, Brazil and Russia as well as Argentina, South Africa and several least developed countries.

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Outlook in Brief

Currently strong world market prices for many agricultural commodities in international trade are, in large measure, due to factors of a temporary nature, such as drought related supply shortfalls, and low stocks. But, structural changes such as increased feedstock demand for biofuel production, and the reduction of surpluses due to past policy reforms, may keep prices above historic equilibrium levels during the next 10 years.

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