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According to the ICEX, a new report published by the FAO together with the OECD estimates that more than half of the growth, by 17%, of the agricultural and fishing production expected in Latin America in the next 10 years, will come from the livestock sector, that will provide 39% of that increase, and from the expansion by 8% in the fishing production.
The OECD-FAO Agricultural Prospects 2018-2027 predicts that the total crop production in Latin America will grow by 1.8% per year until 2027, and that some 60% of this rise will be due to the improvements in performance, that will undergo a considerable average improvement by 11%, mainly in the cereal and oilseed sectors.
Meat production in Latin America will grow by 19% during this period to meet the strong rise in the global and local demand. Nevertheless, and although the domestic consumption will rise by circa 17% until 2027, the regional production will be increasingly directed towards exports. The sales of meat to foreign countries will grow by some three million tonnes, this entailing a rise four times higher than that registered in the last 10 years, and three quarters of it will rely on the good prospects foreseen for Brazil.
Monday, May 9th, 2018/ ICEX/ Spain.
https://www.icex.es
