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OECD-FAO Agricultural Outlook 2011-2020 (June 2011)

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OECD-FAO Agricultural Outlook 2011-2020 (June 2011)

28th June 2011

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The international community will be facing higher food prices and volatility in commodity markets for some time, according to a new report by the United Nations Food and Agriculture Organisation (FAO) and the Organisation for Economic Cooperation and Development (OECD) that calls for greater investment in agriculture.

The OECD-FAO Agricultural Outlook 2011-2020 says that a good harvest in the coming months should push commodity prices down from the extreme levels seen earlier this year.

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Over the coming decade, however, real prices for cereals could average as much as 20% higher and those for meats as much as 30%, compared to 2001-10, FAO states in a news release, adding that these projections are well below the peak price levels experienced in 2007-08 and again this year.

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