Bullish Outlook for Feed Grains, Global Food Trade
22 Oct 2014 --- The outlook is good for global agricultural producers and agricultural trade, according to Curtis Jones, the global director of economic analysis for Bunge Global Agribusiness, who spoke Tuesday to the 450 attendees of the Export Exchange 2014 conference in Seattle, Washington.
Delivering the keynote address, Jones said a rising population and rapidly growing incomes in the emerging economies will continue to support robust demand for feed grains and other agricultural products.
He noted that growth in agricultural imports will continue to be led by countries in Asia, the Middle East and North Africa. Demand growth in these regions is structural, as many countries face significant land, water and other resource constraints in expanding their own food production, while at the same time boasting some of the world’s fastest rates of economic growth.
“Growth in U.S. agriculture depends on exports. The world’s fastest growing economies are abroad, and 95 percent of the world’s population lives outside our borders,” said Ron Gray, chairman of the U.S. Grains Council (USGC). “U.S. agricultural exports are supporting economic progress and a better life for people around the world. We are excited to have our customers from all over the globe here in Seattle, and we are here to learn how to serve them better.”
Cosponsored by the Council and the Renewable Fuels Association (RFA), Export Exchange is the year’s premiere coarse grains conference, bringing together global buyers and U.S. sellers of corn, sorghum, barley and their co-products.
“International consumption of distiller’s dried grains with solubles (DDGS) has grown exponentially as the world begins to understand the benefits of the high-protein feedstock. Just last year the United States exported a record 9.7 million metric tons of DDGS to nearly 50 countries. These exports accounted for approximately 28 percent of all U.S. produced DDGS, and I look forward to seeing what the future holds,” stated Bob Dinneen, RFA president and CEO.
