FAO Agricultural Production Index Relative to 2004-2006 Base Period

FAO indices measure the aggregate volume of agricultural production for countries, regions, and the world relative to a 2004-2006 base period. The indices are calculated using the Laspeyres formula, weighting production quantities of crops and livestock by 2004-2006 average international commodity prices. The data is compiled by the Food and Agriculture Organization (FAO) from national production statistics.

Use Cases

• Analyzing trends in aggregate agricultural production volume over time using the indexed values.
• Comparing relative productivity levels between countries or regions using the standardized international price weights.
• Modeling the impact of policies or shocks on disposable agricultural production, as seed and feed quantities are deducted.
• Tracking production for commodity groups like crops or livestock, where inputs like seed or feed from within the same group are netted out.

Strengths

• Indices are calculated using a standardized Laspeyres formula for consistent cross-country comparison.
• Uses international commodity prices to avoid exchange rate distortions in global aggregates.
• Deductions for seed and feed avoid double-counting in the aggregate production measure.

Limitations

• Specific row count, column details, and exact temporal coverage are unknown from the provided description.
• The base period (2004-2006) may be outdated for analyzing recent trends if the data is not frequently updated.
• Processed and semi-processed feed items are excluded, which may limit analysis of the full agricultural supply chain.

Provenance

Source

Food and Agriculture Organization (FAO) of the United Nations.

Collection Method

Calculated from national agricultural production statistics, with quantities weighted by 2004-2006 average international commodity prices.

Time Range

Annual series relative to a 2004-2006 base period; specific start and end years are unknown.

Geography

Country, regional, and world level coverage.