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Crop and livestock production in Latin America and the Caribbean will increase by 17% over the next ten years, according to an OECD and FAO report released Tuesday in Santiago, Chile.
More than half of the expected growth (53%) is attributed to an increase in crop production about 39% in the livestock sector and the remaining 8% will be the product of the expansion of fish production, according to the report "Agricultural Outlook 2018-2027."
The Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO) provide in the report that the total production of the region will grow by 1.8% per year until 2027.
Brazil will continue to lead food exports in the region Port terminals like Santos.
About 60% of the growth in agricultural production will be due to improved crop yields, which will increase in the region over the next decade by 11% on average, with major changes in cereals and oilseeds. The rest of the expansion of agricultural production will be due to an expansion in the harvested area the document says.
The use of farmland in Latin America will increase from about 11 million hectares and about half will be destined for agricultural production. Soybean cultivation will lead to expansion with about 62% of the increase.
OECD and FAO predict that Paraguay will significantly increase its cultivated area of soybeans while Brazil will increase multiple cultivation (in the same field) of soybeans and corn
The report argues that about 46% of production soybean in Latin America will be exported, mainly to China and about 54% will be processed in the region to produce flour and oil.
Brazil appears in the document as one of the countries that will play a key role in the next decade as a global food supplier, with Russia, India, China, the United States and western countries
Meat production, meanwhile, will increase by 19% in the region until 2027 to meet strong growth in global and regional demand, while meat consumption in Europe Latin America will increase by some 8 million tons (17%).
Meat exports from the region will increase by nearly 3 million tonnes in the next decade representing a growth of 31% with the 2015-17 base period, an expansion four times higher to that of the last ten years.
Three-quarters of export growth will come from Brazil, according to forecasts by the OECD and FAO.
] According to the report, an increase in aquaculture production of 43% is expected in the next ten years led by Brazil and Chile, which will allow Latin America to remain the second region that produces more fish from behind
Most of this expansion will help meet growing regional demand for fish, as per capita food consumption is expected to increase by 13% over the next decade.
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