The report says the change in dietary preferences

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The report says the change in dietary preferences leads to a
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shift towards greater production of coarse grains and oilseeds, which can be used to feed livestock, away from staple food crops such as wheat and rice. Expansion of the livestock sector alters the demand for crops like coarse grains and oilseeds.the emergence of biofuel and other industrial uses adds a further important dimension to demand, the report said. Coarse grains and oilseeds are crops such as corn, sorghum and soybeans. The FAO and OECD estimate almost 160m tons of additional feed will be needed by 2023 as consumers in developing economies raise their protein levels. Based on strong feed demand, coarse grain and oilseed demand will grow 20 per cent and 26 per cent respectively over the nine-year period. FT Video Milking Asia s growing dairy market Greenfields milk has found receptive markets in Indonesia, Hong Kong and Singapore However, this does not translate into higher prices for coarse grains or oilseeds. Adjusted for inflation, the FAO and OECD see coarse grain prices in 2023 very close to current levels. The production response to the high prices in recent years is expected to be especially strong in the United States, the Russian Federation and Argentina. Global demand will not be able to absorb this supply at current prices, the report says. Based on this
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  • Fall '19
  • FAO

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