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Mexico G20 Agriculture Vice Ministers/Deputies Report
The report of the G20 Agriculture Vice Ministers and Deputies released in 2012 followed up on the work of the 2011 Agriculture Ministers’ Action Plan [link to post on Action Plan]. The report discusses the progress made on a variety of initiatives, including the Agricultural Market Information System (AMIS), the Rapid Response Forum (RRF), the GEO-GLAM Crop Monitor, and the Tropical Agriculture Platform.
Improving Fertilizer Markets Through Competition
Fertilizer is a key piece of the puzzle when it comes to improving agricultural yields in developing countries. Despite widespread recognition of fertilizer's importance, however, many African farmers use substantially less fertilizer than their counterparts in Latin America and Asia. A new article in IFPRI's Insights Magazine examines why this is so, and how increasing competition in the global fertilizer market could help close the gap.
FAO Sees Steady Food Prices, Warns of Tight Supplies
After a volatile few months following the US drought, global food prices stabilized in January, according to the FAO's latest edition of the Food Price Index. The Index averaged 210 points in January, unchanged from a revised December average.
Latest USDA Supply and Demand Estimates Released
The USDA's latest World Agricultural Supply and Demand Estimate has been released, predicting low global wheat and corn stocks for 2012/2013. Global wheat supplies are projected to be slightly lower due to reduced production prospects in Argentina and lower reported production in Russia. US corn ending stocks are projected to be 44 million bushels lower; higher US wheat disappearance will leave the balance sheet historically tight and is expected to support continued strong and volatile prices.
World Food Prices Lowest Since June, Says FAO
The latest FAO Food Price Index averaged 209 points in December, down 2 points from November and the lowest level seen since June 2012. The drop is due mainly to declines in grains and oils/fats. Overall, global food prices in 2012 were 7 percent lower than in 2011.
Cereal prices dropped 6 points in December, led by weaker demand for feed grain and larger maize exports from South America. Rice prices also dipped due to expectations of a good harvest.