The Food and Agricultural Policy Research Institute expects world economic growth to remain strong in the coming decade, boosting meat consumption in many parts of the world.
According to FAPRI, solid commodity prices and a persistently weak U.S. dollar in industrialized trading countries will keep
FAPRI also that new policy developments and rising interest in renewable fuels are expected to boost ethanol and biodiesel markets in the
Other highlights from FAPRI's 2006 agricultural outlook:
* World pork production benefits from trade shocks from BSE in beef and from avian flu in the broiler industry. World pork production reaches 113.1 million metric tons, and trade reaches 4.9 million metric tons by 2015/16. The European Union loses market share, while all other major competing exporters, including
* With continuing strong growth in pork and poultry exports, coupled with the reopening of the Japanese beef market, the
* Grain prices remain high, given strong import demand on world markets. Wheat prices remain above $150 per metric ton. Corn, sorghum, and barley prices steadily increase, from the $90-$94 range to the $117-$134 range per metric ton. The
* FAPRI continues to foresee greater concentration in soybean production.
The 10-year FAPRI projections provide a starting point for evaluating and comparing scenarios involving macroeconomic, policy, weather, and technology variables in world agricultural trade.