Agricultural Products Will Remain High In The Next 10 Years.

2011/6/20 15:08:00 70

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The United Nations Food and Agriculture Organization (FAO) and the economic cooperation and Development Organization (OECD) said on Friday that global commodity prices will continue to be higher than previous years in 2011-2020 years, supported by rising food and fuel demand and energy cost pmission effect.

The 2011-2020 year Agricultural Outlook report, jointly issued by FAO and OECD, shows that

Agriculture products

Prices should fall from the high level in the past year, driven by recent price jumps.

At the important summit to be held next week, the agriculture ministers of the group of 20 (G20) will discuss the sharp fluctuations in global food prices.

Bulk commodities

Prices should fall from the high level in early 2011, but in real terms, corn and poultry prices will rise by 20% and 30% over the last 10 years, respectively, over the next 2011-2020 years, "the report said.

According to the report, the average price of most grain products will rise over the past 10 years in real terms; if the nominal value is calculated, all grain prices will rise.

The report predicts that the rebound in agricultural product inventory will be constrained by factors such as the increase in output per unit area and the increase in input costs.

The decline in inventory in 2010/11 has boosted grain prices.

Global agriculture in the next 10 years

Product output

The average annual growth will be 1.7%, slower than the 2.6% in the last 10 years.

The report estimates that the average corn price will rise sharply due to the demand for ethanol fuel and animal feed, while wheat prices remain stable.