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OECD-FAO Agricultural Outlook 2013

image of OECD-FAO Agricultural Outlook 2013

The nineteenth edition of the Agricultural Outlook, and the ninth prepared jointly with the Food and Agriculture Organization of the United Nations (FAO), provides projections to 2022 for major agricultural commodities, biofuels and fish. Notable in the 2013 report is the inclusion of cotton for the first time and a special feature on China.

Higher costs and strong demand are expected to keep commodity prices well above historical averages with a high risk of price volatility given tight stocks, a changeable policy environment and increasing weather-related production risks. China is projected to maintain its self-sufficiency in certain key food commodities while increasing its trade and integration in world agricultural markets.

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Cereals

Supply and demand balances of major cereals were tight in the 2012 marketing year,See the glossary for the definition of crop marketing years for wheat, coarse grains and rice in various countries. with global production of wheat and coarse grains falling short of global utilisation and pulling down stocks. Severe droughts in 2012 in the United States, and across a large part of Europe and into central Asia have been the main cause of the reduced wheat and coarse grains crops.

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