Last year's reform of the CAP will probably have a fairly pacific impact on the EU-15's output of mostly farm commodities over the nearest few years.

Last year's reform of the CAP will probably have a fairly pacific impact on the EU-15's output of mostly farm commodities over the nearest few years, according to a special report from the OECD released this week.

The Paris-based think-tank finds in a recent analysis that the sweeping changes agreed a year ago for EU farm policy especially the 'decoupling' of at least about farm subsidy from output--will lead to "modest reductions" overall, admitting cuts to net exports could be "somewhat larger".

The report--"Analysis of the 2003 CAP reform" *--was published onward Thursday, along ...