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Broad-based income growth in both OECD and Non-member economies, moderate population growth and low inflation lead to higher per capita incomes and consumption gains world-wide. Consumption in the Non-member economies is expected to grow at rates much faster than those of the OECD area, especially for dairy products such as butter, cheese and whole milk powder as well as livestock products. Consumption gains for these products are faster than growth in population providing the potential to reduce malnutrition and hunger. In the mature markets of the OECD area, where ...
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For the first time, this year’s Agricultural Outlook contains projections over a ten-year period to 2013 and includes an expanded European Union of 25 member countries. The Outlook this year occurs against a macroeconomic background that is more optimistic than that of the last two years. Economic growth in most OECD member countries is expected to be higher, led by the resurgent growth in the United States and its NAFTA trading partners, Canada and Mexico. Japan too, is expected to post solid growth numbers in 2003, and a path of moderate growth is expected following years of stagnation, even though this is anticipated to lessen in the medium-term. Growth in the euro zone in 2003 is lagging that of other major OECD ...
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Restrained optimism prevails for a recovery in the world economy as growth momentum takeshold in North America, Asia and the United Kingdom. Continental Europe has begun to rebound, but has shown a more hesitant recovery. Major Non-member economies such as Brazil and China continue to enjoy substantial economic activity and growth, as does Russia in the near term ...
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World dairy product prices firmed considerably in 2003 but are projected to increase only modestly in nominal terms over the Outlook period. OECD countries are expected to contribute about 22% of the projected increase in global milk production of 121 million tonnes; with most of the OECD growth occurring in Oceania ...
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The Council of Agricultural Ministers of the European Union (EU) reached agreement, in Luxembourg on 26 June 2003, on a reform of the Common Agricultural Policy (CAP), based on the Commission’s proposals presented on 23 January 2003 (CEC, 2003a). It includes adjustments to the common market organisations (CMOs) for crops, beef and dairy products as well as the introduction of a Single Farm Payments largely decoupled from current production decisions. In addition, it covers Rural Development Regulation measures and a “financial discipline” mechanism to keep CAP spending in line with existing budgetary ceilings. While a broader discussion of the CAP Reform decision is ...
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India, with the second largest population in the world, potentially represents one of the most important markets for bulk agricultural commodities and agricultural exports. However, in a number of cases, access to this growing market has been constrained by India’s agricultural and trade policies. The overriding policy goal of self-sufficiency in food production based on high domestic production driven largely by domestic subsidies, in the form of price support and large input subsidies, and reinforced by high import tariffs have limited trade opportunities. This policy regime, however, is widely perceived as being neither sustainable nor compatible with the changed circumstances and challenges now facing the Indian agricultural economy ...
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