OECD cuts farm trade forecast

21 April 1999

OECD cuts farm trade forecast

THE Organisation for Economic Co-operation and Development (OECD) has cut its forecast for agricultural trade and prices for the period through to 2004.

It has also warned governments against intervention to support the sector saying such action would cause distortions in the market.

The OECD says in its annual agricultural outlook that many agricultural markets will remain depressed for the next two years.

Prices for maize and wheat would not reach the levels experienced from 1993 to 1997.

The report predicts some increases in spite of the less buoyant outlook.

Net exports in poultry are forecast to grow 63% by 2004, cereals 17% and cheese 28%.

• Financial Times 21/04/99 page 44