On the occasion of the launch of this year’s edition of the OECD-FAO Agricultural Outlook, the heads of both contributing organizations highlighted the important role of the Agricultural Market Information System (AMIS) in stabilizing market conditions. Noting that “the outlook for global agriculture is calmer than it has been in recent years”, OECD Secretary General Mr Angel Gurría acknowledged the good work of AMIS. With a smile he added that “AMIS must be working very well because we have not had any crisis”.

In reference to the sharp increase of international maize prices earlier this week, FAO Director General Mr José Graziano da Silva explained why AMIS is so crucial. Just two weeks ago, people expected a bumper maize crop due to ample rainfall in the United States, the world’s largest producing country. But then, “it didn’t stop raining” and the continued rainfall was perceived by some as a potential threat for crop development. Such episodes offer room for speculation, he explained, which neither benefits consumers nor producers; this is why AMIS is so important and successful. By providing “updated information, timely it can reduce the role of speculators”. Contrary to the past, he concluded, “we now have a tool to work in these situations" which will hopefully avoid future price crises.