World trade in wheat, corn and other coarse grains, and soybeans could expand by about one-sixth during the period up to the end of the current decade, according to a report in Hellenic Shipping News.
This outlook is based on a new set of projections, published in July by the Organisation for Economic Cooperation and Development (OECD) jointly with the United Nations Food and Agriculture Organization (FAO), titled "OECD-FAO Agricultural Outlook 2020-2029."
Assessing short-term prospects has become problematic amid the extraordinary ramifications of the COVID-19 pandemic response worldwide.
However, assuming that a global economic recovery unfolds over the decade ahead, the OECD and FAO analysts argue that upwards trends in grain and soybean trade volumes can be foreseen, based on population growth, strengthening economic activity, and the results of other drivers such as urbanization, agricultural policies, prices, and consumer preferences.
To read the report from the OECD and FAO, click here.