AGRICULTURAL NEWS - The context for this year’s “Agricultural outlook 2017-2026” is record production and the abundant stocks of most commodities in 2016, which have kept prices well below the peaks experienced over the last decade.
Average prices of cereals, meats and dairy products continued to decline, while prices of oilseeds, vegetable oils, and sugar experienced a slight rebound in 2016.
Over the outlook period, demand for agricultural and fish commodities is projected to slow considerably.
The primary sources of growth in the last decade were: the People’s Republic of China, where rising meat and fish demand caused the consumption of animal feed to grow almost 6% every year; and the global biofuel sector, where the use of feedstock inputs grew almost 8% every year.
The replenishment of cereal stocks by 230 million tons over the last decade also augmented demand.
Global food demand and prices to decrease over next decade
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Posted on: 08:28 Tue, 03 October 2017
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