The Organization for Economic Cooperation and Development and the United Nations Food and Agriculture Organization released the results of a study on agriculture and will soon publish a report, titled “Agricultural Outlook: 2008-2018,” on their findings. For New York Times story, click here. According to the story,
[b]efore the economic downturn began in 2008, there was widespread concern that consumers might have to adjust permanently to higher food prices because of factors including droughts, increased demand by consumers in emerging markets and increased competition for crops by biofuel plants.But so far for 2009, agricultural prices have been falling due to the economic downturn moderating demand.
“The decline in real income should dampen demand for agricultural commodities and, all else being equal, decrease agricultural product prices,” the report said of the period when the economy remains weak... As a recovery takes hold, the prices for many, but not all, agricultural commodities will rise, said the report. That growth in agricultural production and consumption is expected to be driven mainly by developing countries.The report is scheduled to be released on August 3, 2009. Besides focusing on crop prices, the report also focuses on biofuels and provides an assessment of agricultural market prospects for production, consumption, trade, stocks and prices of the included commodities. A copy of the report can be ordered from the OECD’s website by clicking here.
A the data used in the report can be accessed by clicking here.
Posted: 06/23/09
