Global Food Demand And Prices To Decrease Over Next Decade
Farmer's Weekly|Farmer's Weekly 18 August 2017
The “Agricultural outlook 2017-2026” report, compiled by the Organisation for Economic Co-operation and Development, as well as the United Nations Food and Agriculture Organization, forecasts that over the next decade, demand for agricultural products will slow considerably, causing real prices of most agricultural and fish commodities to follow a slightly declining trend, thereby keeping them below previous peaks.
Global Food Demand And Prices To Decrease Over Next Decade

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.

These recent drivers are not anticipated to support markets in the same way over the medium term, and no other sources to replace them are foreseen.

SLOWDOWN IN GLOBAL FOOD DEMAND

Growth in food demand for virtually all commodities in the outlook is anticipated to be less than in the previous decade. Globally, per capita food demand for cereals is anticipated to be largely flat, with growth only expected in the world’s least developed countries. Meat consumption prospects are seen as limited on the basis of recent trends in many countries, where dietary preferences, low incomes and supply-side constraints curb consumption growth.

This story is from the Farmer's Weekly 18 August 2017 edition of Farmer's Weekly.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the Farmer's Weekly 18 August 2017 edition of Farmer's Weekly.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM FARMER'S WEEKLYView All
Protests in Poland turn violent
Farmer's Weekly

Protests in Poland turn violent

The farmers’ protest in Poland is fast becoming known as the most violent agricultural protest in Europe, according to national media.

time-read
1 min  |
29 March 2024
Banana Hall of Fame celebrates banana industry
Farmer's Weekly

Banana Hall of Fame celebrates banana industry

In celebration of its 125th Bananaversary, Dole Food in the US recently established a National Banana Hall of Fame to honour culinary and cultural institutions that have helped to establish bananas as one of the world’s most popular and most purchased fruit.

time-read
1 min  |
29 March 2024
Underutilised crops come into their own
Farmer's Weekly

Underutilised crops come into their own

Diverse food systems are the focus of collaborative efforts at UKZN, writes Jyothi Laldas.

time-read
2 mins  |
29 March 2024
Why cybersecurity is needed in farming
Farmer's Weekly

Why cybersecurity is needed in farming

The agriculture sector could be the most susceptible to cyberattacks.

time-read
3 mins  |
29 March 2024
Minister launches third National Status of Biological Invasions in SA programme
Farmer's Weekly

Minister launches third National Status of Biological Invasions in SA programme

Biological invasions need to be treated as an urgent matter as they pose a risk to water security as well as biodiversity, writes Jyothi Laldas.

time-read
3 mins  |
29 March 2024
Two brothers who left their mark on SA
Farmer's Weekly

Two brothers who left their mark on SA

Born in Germany, Alfred and Otto Beit came to the Transvaal's diamond fields in the late 1800s, helping to found mining companies and build crucial infrastructure, writes Graham Jooste.

time-read
5 mins  |
29 March 2024
Driving impressions: Honda Elevate 1,5
Farmer's Weekly

Driving impressions: Honda Elevate 1,5

Honda SA is back to its best in terms of packaging, build quality, value-for-money and efficiency with a new entry to the hotly contested compact SUV market. Ian McLaren for CAR tested the vehicle at its launch.

time-read
3 mins  |
29 March 2024
Starting a small-farm vegetable project: Part 2
Farmer's Weekly

Starting a small-farm vegetable project: Part 2

The process of developing a small vegetable farm is gradual and the full benefits will only be realised later, writes Bill Kerr.

time-read
2 mins  |
29 March 2024
Basic vaccination and health protocols for pigs
Farmer's Weekly

Basic vaccination and health protocols for pigs

Pigs are usually produced in intensive environments such as purpose-built piggeries, sties, or even enclosed sheds.

time-read
3 mins  |
29 March 2024
Saving Nigeria's forest elephants
Farmer's Weekly

Saving Nigeria's forest elephants

Nigeria risks losing all its forest elephants. This is what Rosemary Iriowen Egonmwan, professor of environmental physiology of animals at the University of Lagos, and Bola Oboh, professor of genetics at the Department of Cell Biology and Genetics at the University of Lagos, found when they went looking for them.

time-read
4 mins  |
29 March 2024