Economist (Commodity Market Analyst)

Organizational Setting

The Food and Agriculture Organization of the United Nations (FAO) contributes to the achievement of the 2030 Agenda through the FAO Strategic Framework by supporting the transformation to MORE efficient, inclusive, resilient and sustainable agrifood systems, for better production, better nutrition, a better environment and a better life, leaving no one behind.

The Markets and Trade Division (EST) monitors and analyses developments and trends in international, regional and national agricultural commodity markets and the factors affecting them, collecting and disseminating up-to-date and comprehensive market and policy information for the major traded commodities and those important to food security. It also undertakes forward-looking outlook studies. The Division analyses issues that affect global food and agricultural markets and trade, including analysis of trade policies and agreements, and provides technical support and capacity development to FAO Members in all these areas. Through its Global Information and Early Warning System on Food and Agriculture (GIEWS), the Division is responsible for FAO’s early warnings on food shortfalls and food security problems. EST is also responsible for the production of FAO flagship publication The State of Agricultural Commodity Markets (SOCO) and the OECD-FAO Agricultural Outlook. The Division houses the secretariats of the Committee on Commodity Problems (CCP) and its subsidiary Intergovernmental Groups (IGGs), the G20 Agricultural Market Information System (AMIS), and the World Banana Forum (WBF).

Reporting Lines

• The Commodity Market Analyst reports directly to the Team Leader of the Basic Foodstuffs team and works under the overall guidance of the EST Director.

Technical Focus 

• The Basic Foodstuffs (BF) team closely monitors national supply and demand situations of the basic food commodities, including cereals (wheat, coarse grains and rice), oilseeds and their derived products (vegetable oils and meals), meat, and dairy products in order to derive reliable regional/global estimates/forecasts of production, utilization, trade and stocks. Based on these estimates/forecasts, combined with analyses assessing the impact of a range of drivers on the market situation, the BF team publishes comprehensive market intelligence reports and short-term forecasts on a regular basis, including biannual Food Outlook and monthly AMIS Market Monitor. In addition, the team also prepares and publishes the FAO Food Price Index (FFPI), a measure of the monthly changes in international prices of a basket of food commodities, namely cereals, vegetable oils, meat, dairy products and sugar. The BF team also undertakes analyses and prepares research reports and technical papers on global food markets and their underlying factors to enhance market transparency and contribute to food security.   

Tasks and responsibilities

The incumbent is expected to contribute to monitoring and assessing national and global supply and demand situations of basic food commodities aforementioned, focusing on selected commodities depending on the requirements of the Division. In particular, the incumbent will perform the following duties:  

• Closely monitor the national supply and demand situation of selected basic food commodities (cereals, oilseeds and their derived products, meat, and dairy products) on both physical and futures markets (as relevant to the commodities) to derive regional/global estimates/forecasts of production, utilization, trade and stocks for those commodities;
• Identify, collect and validate relevant data to be used for constructing and updating the commodity databases;
• Review the data prior to processing for computer storage or analysis; cross-check data to identify and redress any inconsistencies or discrepancies;
• Assist with the production of tabulations and graphics for publications and/or presentations in reports ;
• Draft supply and demand situation and outlook reports, and updates on price and policy developments relevant to the assigned commodity group;
• Conduct commodity markets analysis and prepare technical papers and reports;
• Assist with research and regularly update relevant information available on the Organization’s website;
• Use statistical software and digital tools to assist with analyses and programme edits, such as to identify or forecast patterns and causal relationships;
• Recommend improvements to operating procedures and systems used;
• Perform other duties as required.

CANDIDATES WILL BE ASSESSED AGAINST THE FOLLOWING

Minimum Requirements

• Advanced University degree in Economics, Agricultural Economics, Agronomy, or a related field.
• One to four years of relevant experience in qualitative and quantitative economic analysis of agricultural markets, trade and related policies.
• Working knowledge (proficient – level C) of English.

Source: https://jobs.fao.org/careersection/fao_external/jobdetail.ftl?job=2403462