GAF - Global Agribusiness Forum

USDA Reduces Soy and Corn Planting Outlook in the United States

Tariff and health barriers, as well as the commercial war on the world market, were the highlights of the panel on prospects for agribusiness by 2050 during the Global Agribussiess Forum (GAF18), which takes place at the Sheraton WTC hotel, in São Paulo-SP.

The scenario has generated uncertainties in world trade in grains and has already led the United States to reduce its price prospects and planting soybeans and maize. According to the chief economist of the United States Department of Agriculture (USDA) Warren Preston, in the face of this scenario, a few hectares of the two crops will be replaced by wheat in the next crop.

The executive director of Embrapa, Cleber Oliveira Soares, also highlighted the level of demand in the European market that should raise food prices in the economic bloc. Asia will continue to be the main importer of grain. Only China will be responsible for 70% of the world's purchases of soybeans.

Another trend highlighted by the executive of Embrapa, is the growth of consumption of vegetable protein in the world. It is estimated that by 2050, demand for oilseeds, such as chickpeas, exceeds 30 million tons. A market, he said, that is open without a major supplier.