A report published this week Food and Agriculture Organization of the United Nations (FAO) and the Organization for Economic Co-operation and Development (OECD) estimates that world trade in basic agricultural products will experience an increase of 1.3% per year (half the rate recorded in the last decade) mainly as a result of lower growth in demand from middle-income countries.
Maize, wheat and soybeans contributed the most to the overall growth of agricultural trade in the past decade; however, it is estimated that it will experience the largest decline in commercial growth over the next 10 years.
After becoming an importer of agricultural products in the last few years, the sub-region of South and Southeast Asia sIt is expected to continue to increase its net imports as a fundamental consequence of the continued and strong increase in demand within the sub-region.
Sub-Saharan Africa’s trade deficit in major food products is expected to double by 2032, largely reflecting rapid population growth compared to other regions.
In Latin America, surplus commercial agricultural products an increase of 17% is expected, which will raise the share of agricultural production in exports to 40% by 2032.
North America is expected to remain the second largest exporter of agricultural products to world markets over the next 10 years, but strong growth in domestic consumption is expected to slightly reduce its net export position.
The region’s agricultural sector can play a key stabilizing role by allowing production to expand to normalize high price cycles.
climate and agriculture
Greenhouse gas (GHG) emissions from agriculture are projected to increase by 7.5% over the next decade, which is less than half the projected growth in output, indicating a significant decline in the carbon intensity of agricultural production. It is estimated that the livestock sector will be responsible for 86% of the increase in emissions.
The report predicts a reduction in emissions from Greenhouse gases from agriculture in North Americaand their rise in sub-Saharan Africa as crop and livestock production increases, underscoring the importance of investing in transforming agri-food systems in the region.
It is estimated that in Latin America greenhouse gas emissions from agriculture will continue to be higher than the region’s share of world production.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
