Agricultural markets may recover

OECD Observer

Global agricultural commodity markets have taken a long time to recover from a precipitous drop in prices during the second half of the 1990s, caused by slack demand and trade in the wake of a general downturn in world economic growth, as well as continued high levels of government spending on farm support.

However, according to the OECD’s Agricultural Outlook 2002-2007 published on 16 July, world agricultural prices should gradually rise from their current weak levels as the economic recovery strengthens at the end of this year and into 2003. It forecasts a more marked increase in prices for certain meats and dairy products than for cereals and oil seeds.

The report says world agricultural markets will improve between now and 2007. Much of this will be due to stronger demand and growing imports in rapidly developing countries outside the OECD. The growth in trade of livestock products and feedstuffs will continue to be faster than that of food grains. Yield and productivity rather than increased land use will contribute most to crop expansion.

The Outlook provides a comprehensive set of projections for all sections of agriculture over the next five years. It also takes a special look at Russian agriculture and at the issue of food security in developing countries.

©OECD Observer No. 233, August 2002


Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

OECD Observer Newsletter

Stay up-to-date with the latest news from the OECD by signing up for our e-newsletter :

Twitter feed

Digital Editions

Don't miss

Most Popular Articles

NOTE: All signed articles in the OECD Observer express the opinions of the authors
and do not necessarily represent the official views of OECD member countries.

All rights reserved. OECD 2020