A study released by the Organization for Economic Cooperation and Development and the U.N. Food and Agriculture Organization predicts worldwide trade in pork and beef to grow by more than 40 percent by 2017. The report predicts poultry trade to expand by approximately 40 percent.
The increased import demand for pork and beef will be principally from OECD countries. Asian developing countries will drive poultry import gains, according to the study. Between now and 2017, the report predicts that the average global prices for both beef and pork will rise by about 20 percent, while wheat and corn prices rise 40 percent to 60 percent.
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.