The global protein market rate of growth slows down
Global animal protein production for 2019 is still on the track of growth but not at the same pace recorded last year, shows the latest Global Animal Protein Outlook released by Rabobank. "Poultry is going to expand more in 2019 than 2018. In pork, we actually see a total decline", explained Justin Sherrard, Global Strategist-Animal Protein at Rabobank.
Brazil is one of the big players that managed to push production in all sectors, while in Australia, New Zealand and Europe tempered growth, maybe flat is expected, according to Mr. Sherrard.
At the same time, a report issued by the UN's Food and Agriculture Organization (FAO) confirms the situation and expects to see rapid growth in global poultry production. "China’s poultry output has been rapidly ramped up and is expected to grow by 17% year-on-year, containing the country’s total meat output decline to 8%. Global poultry production, which accounts for 39% of total meat output, is expected to grow this year, with increases anticipated Argentina, Brazil, the EU and the US. This is also in line with the production of bovine and ovine meat, with overall trade in meat products expected to grow by 6.7% this year," it is said in the FAO report.
In total, the production of bovine, ovine, poultry and pig meats is forecast to drop by 1% to a total of 335 million metric tons cwe, according to FAO estimates.
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