Today, the global food systems are exposed to multiple challenges including climate change, transboundary pests and diseases, and pandemics. As temporary restrictions on movement during the COVID-19 pandemic has highlighted, risks inherent in imbalances in demand and supply of globally traded agricultural commodities can be instantly transmitted through the global food systems, adversely impacting the economic performance of importing countries and regions, and worsening inequality through the disproportionately affected socio-economically vulnerable groups. Furthermore, the projected acceleration of changes in food demand, both in quantity and quality, with the prospects of world population growth and urbanization, can bring about disruptive impacts on all stages of global food systems from production, distribution and consumption. This could potentially threaten global food security if member countries and organizations stay uninformed and unprepared.   

For Japan, which depends on imported food and feed for 60% of its calorific needs, it is especially essential to closely track the development of global agricultural commodity markets, and to devise strategic actions in advance to secure global food security. The OECD-FAO Agricultural Outlook, published annually in early July, reports the projections on agriculture commodity markets in the next decade. It is compiled by a team of senior experts/economists based on thorough analyses of statistics on agriculture, forestry and fisheries provided by member countries and organizations. 

The FAO Liaison Office, with the support from JIRCAS, will host an online event, to introduce the key message of Outlook 2021 to the Japanese audience. We will invite two senior economists from OECD and FAO to lead a team of experts in the compilation of the report and talk about the mid to long term projections of global agricultural commodity markets, and to discuss with Japanese experts strategic actions needed for member countries and organizations to ensure global food security through international collaboration.