This is the first issue of a new series dealing with agricultural commodity policies. It includes the third review of policies that have influenced basic food commodity markets, covering 2003 and 2004, a period of particular interest as it coincides with the end of the implementation of the Uruguay Round WTO Agreement and with an intensification of the Delta Round multilateral negotiations. The information is presented on a sectoral basis, organized into five chapters dealing with rice; grains; oilseeds and oils; meat and livestock; and diary products. Policy developments generally cover measures on production, marketing and storage, trade and consumption for the various commodities. This publication will be useful to governments, policy and market analysts, researchers, traders, farmers' organizations and, more generally, to all those dealing with development and agricultural issues.