The Agriculture sector is demonstrating a greater resilience to he current global crisis than other sectors, according to a new report released by the Organisation for Economic Cooperation and Development (OECD) and the United Nations Food and Agriculture Organisation (FAO).

The OECD-FAO Agricultural Outlook 2009-2018 states that agriculture is currently showing more resilience to the economic downturn than other industries, because food is a basic necessity. The report adds, however, that risks to the sector could increase if the economic downturn deepens.

Consumers are expected to get a breather in the coming months as the downturn leads to lower food prices, although the report notes that “episodes of extreme price volatility” cannot be ruled out over the coming years.

While food prices have come down from the record peak seen in early 2008, they still remain high in many poor countries, adds the report.

“Over the coming decade prices for all farm commodities except beef and pigmeat - even when adjusted for inflation - are unlikely to fall back to their average levels before the 2007-08 peaks,” it states.