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OECD-FAO Agricultural Outlook 2014

image of OECD-FAO Agricultural Outlook 2014

This twentieth edition of the Agricultural Outlook, and the tenth prepared jointly with the UN Food and Agriculture Organization (FAO), provides market projections to 2023 for major agricultural commodities, biofuels and fish across 41 countries and 12 regions: OECD member countries (European Union as a region), key non-OECD agricultural producers (such as India, China, Brazil, Russian Federation and Argentina) and groups of smaller non-OECD economies in a more aggregated form. This edition includes a special focus on India.

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Biofuels

This chapter describes the market situation and the latest set of quantitative medium-term projections for global and national biofuel markets for the ten-year period, 2014-23. It covers the developments expected in world and national ethanol and biodiesel prices, production, use, trade and stocks. The quantitative projections are developed with the aid of the partial equilibrium Aglink-Cosimo model of world agriculture. The chapter also includes three boxes that explain the uncertainties around the US Environmental Protection Agency (EPA) decision concerning the levels of biofuels mandates, the influence of petrol price controls on hydrous ethanol prices in Brazil, and, sub-national policies supporting biofuels. The chapter concludes with a discussion of some main issues and uncertainties that may have an impact on the medium-term outlook for biofuels. These include biofuel policies, and specific market developments influencing production, consumption and trade in biofuels.

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