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OECD-FAO Agricultural Outlook 2008

image of OECD-FAO Agricultural Outlook 2008

This 2008 edition of the OECD/FAO Agricultural Outlook covers the outlook for commodity markets during the 2008 to 2017 period, and brings together the commodity, policy and country expertise of both Organisations. The report analyses world market trends for the main agricultural products, as well as biofuels and provides an assessment of agricultural market prospects for production, consumption, trade, stocks and prices of the included commodities.  This publication includes Statlinks, URLs linking to Excel® spreadsheet files containing background data, as well as a special chapter on high prices which analyses whether they are here to stay. The market projections cover OECD countries, as well as other key agricultural players including India, China, Brazil, the Russian Federation and Argentina, and many other non-OECD countries and regions.  In total, the projections encompass 39 countries and 19 regions.

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Dairy

In recent editions of this report, the key driving forces identified as conditioning the medium-term evolution of the global dairy industry have been strong demand growth, largely in developing countries, within the context of restrained supply from traditional OECD exporters. The main drivers on the demand side in developing countries are a sustained growth in population, a rapid pace of urbanisation, and higher per capita income growth than has been experienced in decades. Consumption of milk and dairy products varies vastly by country/culture, but is rising nearly everywhere, exhibiting the highest growth rates among agricultural food commodities. Supplies from traditional OECD exporters have slowed, either due to supply constraints and/or policy reforms that have reduced production and export incentives. These fundamental factors remain the same in the projections provided in this Outlook.

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