May 30, 2008
 

Global meat trade forecast to grow 40 percent by 2017
 
 

World trade in beef and pork are forecast to expand by more than 40 percent by 2017, according to the latest Agricultural Outlook from the Organisation for Economic Cooperation and Development (OECD) and the UN Food and Agriculture Organisation (FAO).

Meanwhile, poultry trade is expected to grow just below 40 percent, the report said.

The report expects OECD countries to dominate increased import demand for beef and pork while developing Asian countries will push up poultry import gains.

From 2008-2017, average global prices for beef and pork would rise 20 percent; wheat and corn prices would increase 40-60 percent; and oilseed prices would go up by more than 60 percent, according to the report.

The report also suggested further review of current biofuel policies, noting their role in skyrocketing food prices and high oil prices, changing diets, urbanisation, economic growth, growing populations and global grain stocks shortage due to climate changes that have caused droughts in major production areas.

For the full report, click here