- Belgian-FAO support to El Niño-affected pastoralists in Somali Region of Ethiopia strengthens livestock-based livelihoods26/05/2016
- FAO seeds increase the availability of fresh vegetables in conflict-hit Akobo26/05/2016
- UN agencies provide seeds, tools and food to break hunger cycle in the Central African Republic25/05/2016
- Building resilience to enable vulnerable people cope with natural disasters and pandemic threats25/05/2016
- New Global Partnership for Preparedness launched24/05/2016
Connect with us
Agriculture more resilient to global crisis than other sectors
Because food is a basic necessity, the agriculture sector is showing more resilience to the global economic crisis than other industries. But the risks could increase if the economic downturn deepens, according to a new report by the OECD and FAO released today.
Falls in agricultural prices and in the production and consumption of farm goods are likely to be moderate as long as the economic recovery begins within two to three years, says the OECD-FAO Agricultural Outlook 2009-2018. As the downturn lowers food prices, pressure is eased on recession-hit consumers who have less money to spend, it says.
Food prices have come down from the record peaks of early 2008 but they remain high in many poor countries. Over the coming decade prices for all farm commodities except beef and pigmeat - even when adjusted for inflation - are unlikely to fall back to their average levels before the 2007-08 peaks.