What are the key findings from the latest Food Outlook Report?
- Dairy: World production is expected to increase by 2% to 724 million tons, an increase influenced by dairy producers in developing countries. Import demand of dairy products is projected to increase by 5% to 48.3 million tons in fluid milk equivalent. These changes should carry with them a positive outlook for international trade, though much still depends on climate conditions. Poor weather could drive feed prices higher and influence world trade.
- Meat: Due to high feed prices, diseases and diminishing animal inventories, the expansion of global meat production will be limited to 1%, to 294 million tons in 2011. This small increase is driven mostly by poultry and pork,
- Corn and Soybeans: Delays in spring plantings forced FAO to describe the outlook for supply and demand of corn and soybeans as more tentative than normal for this time of the year. Nonetheless, FAO expects corn production in major producing countries, as well as globally, to register a modest growth in 2011 compared to 2010.
See a video with Abdolreza Abbassian here.