São Paulo – The Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) released this Tuesday (03) their report with an outlook for the global agricultural production from 2018 to 2027. The report points out that global agricultural and fishing production could rise 20% in ten years.
However, the pace of growth will vary greatly from region to region. Both multilateral organizations forecast significant improvements in production in areas with developing countries, such as Sub-Saharan Africa, South and East Asia, the Middle East and North Africa, all the while developed nations should post lower growth rates, especially in Western Europe.
Regarding consumption, the report expects a deceleration in the pace of growth of global demand and, at the same time, a continuous increase in productivity, which should keep down the prices of the main agricultural commodities in the next ten years.
This forecast considers an expected weakening in the demand in the main emerging economies, the stagnation of the per capita consumption of staple foods and the gradual decline of population growth rates.
Within this context, the sector’s global trade should grow in the next decade half of what it experienced in the ten previous years, with the bulk of the increase in exports taking place in countries with widespread availability of land, especially in the Americas, and the bulk of the increase in imports to be seen in nations with high population growth rates, such as those in the Middle East and North Africa, Sub-Saharan African and Asia.
Translated by Sérgio Kakitani
