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Long-term Global Agricultural Output Supply-Demand Balance and Real Farm and Food Prices AgEcon
Tweeten, Luther G.; Thompson, Stanley R..
Global food demand is estimated from population projections of the United Nations and food supply is projected from Food and Agriculture Organization yield data to quantify the global food supply-demand balance for 2025 and 2050. The eight food categories examined account for 95 percent of global food consumption. Results indicate that the historic era of secularly falling real food prices is over. The real price of corn, for example, is not expected to fall over the next four decades at the annual rate of 1.3 percent that it fell annually from 1960 to 2006. The analysis foresees future real food prices fluctuating around a flat or rising trend. Slowed national economic growth from flat or rising real food prices may be little more than an irritant for...
Tipo: Working or Discussion Paper Palavras-chave: World Food Supply-Demand; Food Prices; Agricultural Markets; Crop and Livestock Yields; Agricultural and Food Policy; Demand and Price Analysis; International Development; Q11; Q18.
Ano: 2008 URL: http://purl.umn.edu/46009
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