November 6, 2024 | 04:07 GMT +7

  • Click to copy
Wednesday- 07:00, 07/07/2021

Ag prices to ease but hunger and climate goals are far off: FAO

(VAN) Food commodities are likely to become cheaper in the coming decade as productivity grows, but global targets on reducing hunger and emissions are unlikely to be met under current policies, FAO and OECD said.
 

Agricultural commodity prices have surged since last year due to a boom in Chinese imports and tightening inventories, leading the FAO last month to forecast record costs in 2021 for food importers.

However, prices of most agricultural commodities should fall slightly in real terms in the decade ahead, reverting to a long-term trend of improving production meeting rising demand from a growing population, the FAO and the Organisation for Economic Cooperation and Development (OECD) said in a joint report.

"The fundamentals don't say to us that we will be moving to a supercycle of commodity prices," Maximo Torero, the FAO's chief economist, said during a presentation of the FAO/OECD Agricultural Outlook 2021-2030.

Chinese demand will remain a driver of global agricultural markets, particularly for meat, fish and feed grains, but rising at a lower pace than in the past decade as China's population expands more slowly and consumption of some foodstuffs levels off, the report said.

Overall greenhouse gas emissions from agriculture are projected to increase by 4% over 10 years, not fall, with livestock accounting for some 80% of the rise - and a U.N. goal of "zero hunger" by 2030 remains far off.

"The problem is distribution and access to food in some regions," OECD Secretary-General Mathias Cormann said, reiterating his organisation's call for farm subsidies to focus more on infrastructure and innovation.

The 10-year outlook assumes an economic recovery following the coronavirus pandemic in which food markets prove resilient.

Net agricultural exports from Europe and Central Asia are seen doubling over the decade due to Russian and Ukrainian grain shipments.

In contrast, net imports to sub-Saharan Africa are projected to rise by 75% by 2030 due to higher imports of wheat, rice, maize and soybean.

Tr.D

 (Reuters)

Meeting the new demands of the EUDR

Meeting the new demands of the EUDR

(VAN) Sophisticated automation enables users to send hundreds of data collection requests with a single click.

Small farmers in Europe struggle to get by

Small farmers in Europe struggle to get by

(VAN) Brutal economic situation has inflicted misery on farmers who struggle to turn a profit and forced some to look for alternative streams of revenue.

China intensifies emergency food supply amid increasing extreme weather events

China intensifies emergency food supply amid increasing extreme weather events

China has reinforced its emergency food supply in response to increasing extreme weather events and natural disasters, an official said.

Scientists dismayed as UK ministers clear way for gene editing of crops - but not animals

Scientists dismayed as UK ministers clear way for gene editing of crops - but not animals

(VAN) Advocates urge government to allow ‘precision breeding’ to combat disease, but RSPCA warns of ethical dangers.

Expectations positive, but tempered on GM wheat in US

Expectations positive, but tempered on GM wheat in US

(VAN) HB4 wheat’s USDA approval will enable Bioceres to 'move forward with nonregulated field activities for product development and commercialization,' CEO Federico Trucco said in September.

Famine and catastrophic hunger in 5 major hotspots alongside the looming La Niña_climate threat in others

Famine and catastrophic hunger in 5 major hotspots alongside the looming La Niña_climate threat in others

(VAN) Acute food insecurity is set to increase in magnitude and severity in 22 countries and territories.

Pharma and agritech groups push against biodiversity levy at UN summit

Pharma and agritech groups push against biodiversity levy at UN summit

(VAN) One contentious proposal seeks to impose 1% levy on returns from products made using genetic data.

Read more