FAO 2017 Food Outlook Now Published
The latest FAO food outlook has now been published. The report highlights the trends anticipated for all food commodity markets over 2017.
Total meat production is anticipated to stagnate for a second year during 2017, rising by just 0.3% to 322 million tonnes. Output is actually expected to grow in the majority of countries, including the US, Brazil, India and Argentina, but this will be offset by a downturn in Chinese output.
For pigmeat production, FAO anticipates the downturn in China will drive a continuing global decline. Chinese production, which accounts for almost half of the world total, is forecast to fall by almost 4% to 49.8 million tonnes. However, production growth is forecast for other Asian countries, the Americas and Russia. As such, overall, world pigmeat production is forecast to fall 0.8% to 114.7 million tonnes this year.
In contrast, global trade in meat is forecast to register a second year of expansion (+2.5%) in 2017, reaching 32 million tonnes. Pigmeat trade is anticipated to be especially vibrant, climbing over 4% on the year to reach a historical high of 8.6 million tonnes. China is expected to be the main driver of this growth, with imports potentially increasing by 12%. Exports from the US, Brazil and Canada are expected to capitalise on this increased demand, whereas supply limitations will likely mean EU shipments remain stable.
To read the full report, click here.
Bethan Wilkins, Analyst
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