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Crop Biotech Update

OECD & FAO Report Projects Stronger Agricultural Production, Lower Prices in 2015 to 2024

July 8, 2015

The Agricultural Outlook 2015-2024 report was released by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) of the United Nations. The report contains an annual assessment of prospects for the coming decade of national, regional, and global agricultural commodity markets.

According to the report, prices of crops and livestock products have varying trends in 2014. For the crops, two years of high production placed pressure on the prices of cereals and oilseeds. This year, further changes are expected, before the medium term factors affecting supply and demand take hold.

The report also includes a special feature for Brazil, where continued increase in production is evident and supports rapidly growing exports. These developments could also help decrease poverty, especially in rural areas. To date, Brazil is one of the world's ten largest economies and the second largest global supplier of food and agricultural products.

Read the report at the OECD-FAO Agricultural Outlook website.