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New FAO release: Food Outlook, Biannual Report on Global Food Markets (June 2021)

FAO’s new Food Outlook report provides supply and demand forecasts for basic foodstuffs, fish and fishery products along with price analysis and policy information. A special chapter of this report puts recent trends in global food trade under the spotlight, with particular focus on how commodity flows have measured-up during the COVID-19 pandemic. Contrary to widespread predictions of a collapse in global markets, recent data show that trade continues to reach new heights. A novel metric is introduced that better captures the price momentum underway in international markets.

Food Outlook is published by the Markets and Trade Division of FAO under the Global Information and Early Warning System (GIEWS). It is a biannual publication focusing on developments affecting global food and feed markets. Each report provides comprehensive assessments and short term forecasts for production, utilization, trade, stocks and prices on a commodity by commodity basis and includes feature articles on topical issues. Food Outlook is available in English. The summary section is also available in Arabic, Chinese, French, Russian and Spanish.

This report is based on information available up to late May 2021.

KEY MESSAGES

  • World output of the major food commodities is expected to increase in the year ahead, with the exception of sugar, which is forecast to decline for the third consecutive year and fall short of global consumption, pointing to the need to run down inventories.
  • The market outlook for oilseeds and their derived products appears tight, with resumed production growth foreseen insufficient to satisfy world demand.
  • World supplies of wheat and rice are robust, while stocks of coarse grains are forecast to fall despite an expected record 2021 global production, reflecting large-scale utilization foreseen for livestock feed and industrial starches.
  • Expected global year-end stock-to-use ratios are, respectively, 38.0 percent for wheat, above the five-year average, stable at 35.1 percent for rice, and declining to 20.8 percent for coarse grains.
  • World meat output in 2021 is forecast to expand by 2.2 percent, to 346 million tonnes, reflecting an anticipated rebound in meat production in China, where expansions are expected across all meat types, especially pig meat, facilitated by high investments in the value chain and efforts to control the spread of African swine fever.
  • World fish output is expected to rebound and price rises are likely, due to recovering demand from restaurants after a year of restrictions associated with the COVID-19 pandemic. The report notes that pandemic-related restrictions catalyzed a shift in sales trends benefiting small pelagics, such as sardines, anchovies and mackerel, as well as tuna.

 

 

 

 


 



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