FAPRI 1997 U.S. Agricultural Outlook
The Food and Agricultural Policy Research Institute develops a long-term outlook for the world agricultural sector once each year. While the initial steps to develop the new baseline start as soon as the previous year’s baseline is completed, the work begins in earnest in September and October with a discussion of policy and macroeconomic assumptions as well as a review of the models to be used in the upcoming exercise. The preliminary baseline is developed in November and that preliminary baseline is then shared among a number of reviewers. During the first or second week of January, more than 100 respondents are brought together for a two-day review process. Each segment of the baseline is presented and examined in a frank and open exchange of views. Subsequent to that review, the preliminary baseline is finalized.