The State of
Agricultural Commodity Markets 2004

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Contents

About this report

Foreword


Recent developments and long-term trends

Current conditions and recent developments on agricultural commodity markets

Long-term trends reveal structural changes

Changing terms of trade for agricultural commodities


Food import bills

Changing consumption patterns and international trade

Food import bills strain economies

Sources of variation in food import bills of least developed countries


Agricultural export earnings

The risks of dependency on commodity exports

Barriers to trade in developed countries – tariffs, tariff escalation and producer support


Changing patterns of agricultural trade

The evolution of trade in primary and processed agricultural products

Commodity trade and regional integration among developing countries

Market concentration and vertically integrated food chains


Conclusions, challenges and policy responses


References

Annex

Table 1. Commodity prices in real terms

Table 2. Production of selected commodities by ten largest producers

Table 3. Exports of selected commodities by ten largest exporters

Table 4. Imports of selected commodities by ten largest importers

Table 5. Terms of trade in agriculture and versus manufactures

Table 6. Shares of individual commodity groups in total agricultural exports and imports in each country group

Table 7. Growth rates in export and import unit values, by country group

Table 8. Variability in nominal export and import unit values

FAO Commodities and Trade Division publications, 2003–04

Produced by the Editorial Production and Design Group
Publishing Management Service
FAO

The designations employed and the presentation of material in this information product do not imply the expression of any opinion whatsoever on the part of the Food and Agriculture Organization of the United Nations concerning the legal or development status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries.

ISBN 92-5-105133-X

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© FAO 2004

Photographs:
FAO/18350/P. Cenini, FAO/18191/H. Wagner, FAO/19174/M.Marzot, FAO/17720/A.Conti, FAO/20831/R. Messor