10.4), have stimulated major new investments in the agricultural sector and in global food production. Growth estimates for the cereal market, for example, project that by 2021, world wheat production
will increase by 12 percent from the base period 2009–2011 (reaching 761 million tonnes (Mt)); world coarse grain production will increase by 20 percent (1,359 Mt); and world rice production by 16 percent (542 Mt) (OECD and FAO, 2012) (see Figure 10.5).
Figure 10.4 Rising food prices since 2000 (as observed January 2000–August 2012, not adjusted against inflation)
(Source: FAO, 2012c)
Figure 10.5 Observed and expected price and production of wheat, coarse grain and rice, 2000–2021
(Source: UNISDR based on OECD and FAO, 2012)
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