Cereal production index (gross, 1999-2001 = 100)
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Cereal production index covers cereals that are considered edible and that contain nutrients. The FAO indices of agricultural production show the relative level of the aggregate volume of agricultural production for each year in comparison with the base period 2004-2006. They are based on the sum of price-weighted quantities of different agricultural commodities produced after deductions of quantities used as seed and feed weighted in a similar manner. The resulting aggregate represents, therefore, disposable production for any use except as seed and feed. All the indices at the country, regional and world levels are calculated by the Laspeyres formula. Production quantities of each commodity are weighted by 2004-2006 average international commodity prices and summed for each year. To obtain the index, the aggregate for a given year is divided by the average aggregate for the base period 2004-2006. Since the FAO indices are based on the concept of agriculture as a single enterprise, amounts of seed and feed are subtracted from the production data to avoid double counting them, once in the production data and once with the crops or livestock produced from them. Deductions for seed …