OECD-FAO Agricultural Outlook 2003
The ninth edition of the OECD Agricultural Outlook analyses how global and domestic forces are shaping agricultural markets over the medium term. Continuing global economic weakness, compounded by drought-induced production adjustments in some countries, and government support policies are conditioning market outcomes in the near term. The interaction of these factors, together with an expected revival of the global economy in 2004 will help shape OECD and world agricultural markets up to 2008. This book provides valuable information on market trends and medium term prospects for the main agricultural products, including sugar on this occasion. It also shows how these are influenced by government policies and highlights some of the risks and uncertainties that may influence the Agricultural Outlook. Tables provide detailed commodity projections to 2008 for production, consumption, trade, stocks and prices in OECD countries and selected information on other countries, including China, Argentina, the Russian Federation and Brazil.
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Sugar
Relatively low world prices, by historical standards, during consecutive seasons prior to the start of the Outlook are expected to stimulate global consumption of sugar and slow production in some countries open to world markets. This should lead to a pick-up in world sugar prices in the early years of the Outlook as consumption outstrips production growth and begins to eat into the large global stockpile of sugar overhanging the market...
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