Agricultural and fisheries production in Latin America and the Caribbean will increase by 12% in the next decade, but at a slower pace than in the past, according to the Food and Agriculture Organization (FAO).
“Agricultural and fisheries production in the region is projected to expand by 12% by 2032, markedly slower than in the past,” reads the FAO-OECD Global Outlook document.
The agencies estimate that almost 70% of the growth will come from crop production, which will increase by 17%, while livestock and fisheries will experience a “more moderate” boom of 11% and 10% in the next ten years, respectively.
“Exports are key to sustained agricultural growth, and this region with 2,000 million hectares cultivated and abundant agricultural resources will face numerous challenges, as in the rest of the world,” the report added.
By 2032, Latin America is expected to have a global export share of more than 30% of corn, soybeans, sugar, beef, poultry, and flour.
“Exports are key to sustained agricultural growth. In the next decade, the evolution of trade relations will create new opportunities and risks,” FAO-OECD said.
