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Friday, 21 October 2011

EU agricultural commodity outlook 2011/2012 published

Following the announcement of Commissioner for Agriculture and Rural Development Dacian Cioloş at the G-20 agricultural ministers meeting in June 2011, the Commission has now published for the first time a short term outlook for main agricultural commodity markets.

In the EU, cereals balance is expected to remain relatively tight with a 2011 production of 275 million tonnes. Oilseeds production is expected to decrease by 2.2% in 2011. Meat production, boosted by good exports in 2010, is expected to continue the trend in 2011 and then decrease slightly in 2012. Total EU milk production is forecast to reach almost 151 million tonnes in 2011 and remain similar in 2012. The short term outlook for arable crop, meat and dairy markets in the EU includes information and data available until 15 September 2011. The report is based on analyses of market experts within the Directorate General for Agriculture and Rural Development of the European Commission and it will be published three times a year. Updates of the cereals balance sheet will be published monthly on Europa web site and for the first time end of October.

Source: European Commission

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