A UN report stated that India is set to become the largest milk producer by 2026 and it will also account for the biggest increase in wheat production.
The OECD-FAO Agricultural Outlook 2017-2026 stated that the world’s population will increase from 7.3 to 8.2 billion in the next decade with India and Sub-Saharan Africa accounting for 56 % of total population growth thus driving a large share of global demand. It also forecasted that over the first quarter of the 21st century, milk production in India will be nearly tripled.
“Over the course of the outlook period alone, milk production in India will grow 49 %; in 2026, India will be the world’s largest milk producer, with an output one-third above that of the second largest producer, the European Union”, said Organisation for Economic Cooperation and Development (OECD) in its report.
Global production of wheat is projected to increase by 11 %, while the wheat area increases by only 1.8 %. The rise in wheat production will occur through higher yields, most notably in Asia and Pacific, accounting for 46 % of additional wheat production.
India (15 Mt) will contribute to the biggest increase in wheat production followed by Pakistan (6 Mt) and China (5.5 Mt). The report as quoted by ET, highlighted that global food commodity prices will remain low compared to previous peaks since demand growth in a number of emerging economies is expected to slow down and bio fuel policies have a diminishing impact on markets.
Image Source: Economic Times