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OECD-FAO Agricultural Outlook 2017-2026

image of OECD-FAO Agricultural Outlook 2017-2026

Over the ten-year Outlook period, agricultural markets are projected to remain weak, with growth in China weakening and biofuel policies having less impact on markets than in the past. Future growth in crop production will be attained mostly by increasing yields, and growth in meat and dairy production from both higher animal stocks and improved yields. Agricultural trade is expected to grow more slowly, but remain less sensitive to weak economic conditions than other sectors. These demand, supply and trade pressures are all evident in Southeast Asia, where this report identifies scope to improve agricultural productivity sustainably. Real prices are expected to remain flat or decline for most commodities.

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Overview of the Agricultural Outlook 2017-2026

This chapter provides an overview of the latest set of quantitative medium-term projections for global and national agricultural markets. The projections cover production, consumption, stocks, trade and prices for 25 agricultural products for the period 2017 to 2026. The chapter starts with a description of the state of agricultural markets in 2016. In the next sections, consumption and production trends are examined, with a focus on regional developments. The chapter also reviews trade patterns showing the relative concentration of exports and dispersion of imports across countries for different commodities. The chapter concludes with global agricultural price projections and a discussion of uncertainty which might affect price projections. Growing demand for agricultural commodities is projected to be matched by efficiency gains in production which will keep real agricultural prices relatively flat.

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