World milk production shows resilience, says FAO
Food markets will face many more months of uncertainty due to Covid-19, but the agri-food sector is likely to show more resilience to the pandemic crisis than other sectors, according to a new report released by the Food and Agriculture Organization of the United Nations (FAO).
The Food Outlook report provides the first forecasts for production and market trends in 2020-2021 for the world’s most traded food commodities: cereals, oilcrops, meat, dairy, fish and sugar.
Notwithstanding market disruptions caused by the Covid-19 pandemic, world milk production is showing resilience, possibly growing by 0.8% in 2020. However, world dairy exports are expected to contract by 4%, amid faltering import demand.
“The impacts of the Covid-19 pandemic have been felt, at varying degrees, across all food sectors assessed by FAO. Whilst Covid-19 has posed a serious threat to food security, overall, our analysis shows that from the global perspective, agricultural commodity markets are proving to be more resilient to the pandemic than many other sectors. That said, owing to the size of the challenge and the enormous uncertainties associated with it, the international community must remain vigilant and ready to react, if and when necessary,” said Boubaker Ben-Belhassen, director of the FAO Trade and Markets Division.
To download the Food Outlook report, visit: www.fao.org/documents/card/en/c/ca9509en.