Predictable agricultural trade conditions needed to address global food security challenges, according to OECD-FAO annual Outlook
Global agricultural production is growing steadily across most commodities, reaching record levels in 2017 for most cereals, meat types, dairy products and fish, while cereal stock levels have climbed to all-time highs, according to an annual report from the Organisation for Economic Cooperation and Development (OECD) and the UN Food and Agriculture Organisation (FAO). The report stresses that agricultural trade plays an important role in promoting food security, underscoring the need for an enabling trade policy environment.
OECD-FAO Agricultural Outlook 2018-2027 sees weakening growth in global demand for agricultural commodities and food, while anticipating continuing productivity improvements in the sector. As a result, prices of main agricultural commodities are expected to remain low for the coming decade.
The report, presented in Paris by OECD Secretary-General Angel Gurría and FAO Director General José Graziano da Silva, attributes the demand slowdown to a deceleration of demand growth in major emerging economies, stagnating per capita consumption of staple foods and a further gradual decline in global population growth rates.
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