World trade in pork to grow by 40 percent

30-05-2008 | |

According to the latest agricultural outlook from the organization for economic cooperation and development (OECD) and the U.N. Food and Agriculture Organization (FAO), world trade in beef and pork are expected to grow by more than 40 percent by 2017 while poultry trade expands by just below 40 percent.

Increased import demand for beef and pork will be dominated by OECD countries while Asian developing countries will drive poultry import gains, the study predicts.

Between now and 2017, average global prices for both beef and pork are expected to rise by about 20 percent, while wheat and corn prices rise 40 percent to 60 percent and oilseed prices increase by more than 60 percent, as compared to average prices from 1998 to 2007.

The OECD report suggested further review of existing biofuel policies, noting their role in escalating food prices along with high oil prices, changing diets, urbanization, economic growth, expanding populations and low global grain stocks due to climate changes that have spurred droughts in major production areas.

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