Javier Blas & Emiko Terazono report on the UN’s Food and Agricultural Organisation (FAO) Food Outlook for the first half of 2013.
The outlook is good compared to last year, with the FAO saying:
“Food commodity markets are set to be more balanced in 2013/14, in particular cereals. The global food import bill is forecast to reach USD 1.09 trillion in 2013, 13 percent below the record of 2011 but close to the 2012 estimate, as higher bills for ﬁsh and livestock products are anticipated to offset lower expenditures on most other commodities, especially sugar.”
See Javier and Emiko’s article for a further breakdown of the food supply outlook.
FT: Record crops to push grain prices lower
FAO: Food Outlook 2013a
We’re looking forward to hosting the FT’s commodities editor, Javier Blas and Derek Brower of Petroleum Economist to discuss “The New Energy Revolution” for a Chartwell Breakfast Discussion at the RAC on Pall Mall, tomorrow morning.
Click here to see the event details.
To find out more about Javier Blas or Derek Brower, or to book them as speakers for your conference or event, please contact Leo von Bülow-Quirk at email@example.com or call 0044 (0) 20 7792 8000.
I spent some time with Javier Blas, the FT’s delightful and clever Commodities Editor, earlier this week. Over an expresso we talked about skiing (Javier is an expert, his father was a national champion) and Spain and the year ahead. Javier talked me through the big events coming up in commodities in the next 12 months: the impact of US shale oil and gas on the US economy, and what cheap American energy also means for the global energy business; new leadership and a new focus on ROE at the big 5 mining firms; the rise and rise of the commodity trading houses like Glencore; Africa’s transition from a pure-play commodity origination story to a processing and destination story too; the creaking politics of Iran, whose vast oil reserves and geo-strategic location on the Straits of Homuz make it such an important part of the global economy. As Israel threats and US sanctions bear down on its nuclear weapons programme, does Mahmoud Ahmadinejad’s government crack in the face of youth-led demands for reform, or does it lash out.