OECD-FAO agricultural outlook 2023-2032
Global agricultural and food production are projected to continue to increase over the next ten years, but at a slower pace of growth than the previous decade due to demographic trends, according to this report released by the Food and Agriculture Organization of the United Nations (FAO) and the Organisation for Economic Co-operation and Development (OECD). The OECD-FAO Agricultural Outlook 2023-2032 is the key global reference for medium-term prospects for agricultural commodity markets. While uncertainty has risen due to geopolitical tensions, adverse climate trends, animal and plant diseases and increased price volatility for key agricultural inputs, global production of crops, livestock products and fish are projected to grow at an average annual rate of 1.1 percent during the period, half the pace recorded in the decade ending in 2015. Total food consumption is expected to rise by 1.3 percent per annum to 2032, indicating an increase in the share of agricultural commodities used as food.