Monday, July 15, 2019

Food supply to grow faster than demand

Forget about counting on population increases to boost prices es for Canadian crops and livestock. A new report says prices will remain flat or in slight decline over the coming decade.

Global demand for food will increase by about 15 per cent over the next decade, but production will increase more, according to a new report from the Organisation for Economic Co-operation and Development and the United Nation’s  Food and Agriculture Organization.

Technology and innovation will push yields higher, but the amount of land that’s farmed will remain “broadly constant,” the report says.

The demand for cereals for food will increase by 13 per cent, which is about 150 million tonnes. Rice and wheat will be the main ones.

One of the challenges is that population growth will be greatest in Sub-saharan Africa and Asia, and there won’t be enough money or food for everyone there.

 “Regrettably, the most needy regions are expected to see slow income growth and hence only small improvements in their nutritional status,” warned Máximo Torero, one of the FAO’s leaders.

“The findings point to an overall decline in undernourishment; however, at current rates of improvement, we would remain far off track from reaching the Zero Hunger target by 2030.”