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FAO-OECD Food Outlook

Interview with Merritt Cluff, FAO economist

17 June 2011, Paris/Rome - Higher food prices and volatility in commodity markets are here to stay, according to a new report by the OECD and UN's Food and Agriculture Organisation (FAO).

The OECD-FAO Agricultural Outlook 2011-2020 says that a good harvest in the coming months should push commodity prices down from the extreme levels seen earlier this year. However, the Outlook states that over the coming decade real prices for cereals could average as much as 20 percent higher and those for meats as much as 30 percent higher, compared to 2001-10. These projections are well below the peak price levels experienced in 2007-08 and again this year.