Brazil will continue to increase its role as one of the main global food suppliers, including for products such as beef, and this despite a slower pace of growth of Chinese demand.The projections are from the report on agricultural prospects 2021-2030 published by the United Nations Food and Agriculture Agency (FAO) and the Organization for Economic Cooperation and Development (OECD). China will continue to have an enormous influence on agricultural markets. In addition, the Chinese market will have tougher competition as trade tensions diminish with the US. The report predicts that China could once again become the main market for US agricultural exports. In this scenario, and with Brazil as the dominant producer, Latin America as a whole will see its agricultural production grow 14% over the next ten years, given its abundance of land and water. The region’s net export value is projected to expand by 31% – just over half the rate achieved between 2011-2020. Until 2030, the region will continue to grow its share of global markets for major commodities. It may eventually increase its share to 63% of world soy exports, 56% of sugar exports, 44% of fish exports, 42% of beef exports, and 33% of chicken meat exports.
Sources: Valor Econômico/Datamar News