Spain agribusiness reports Q4 Includes 5-year forecasts to 2022

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作者：

Business Monitor International Ltd

年份：

2019

学科分类：

F355.14

出版地：

London

总页数：

63

语种：

English

信息来源：

BMI Research

摘要：

Key View Key View: With our production and consumption forecasts for the markets we track in the Spanish agribusiness sector unchanged in this update, we continue to hold a positive outlook across our five-year forecast period. Within this positive outlook, we hold consistently more bullish forecasts for output than demand across all the markets we track, with the exception of poultry in the livestock sub-sector. We also hold the view that the dairy sector will be under modest pressure after the removal of the EU dairy quota. Dairy production in the country will now have to compete directly with German and French dairy farmers, historicaHy known for superior levels of efficiency. The dairy sub-sector is now adapting to the end of the quota, and this will most likely impose significant pressure on producers in terms of competition, as will a move by Russia to extend its ban on all EU food imports through to the end of2020. The livestock sector will witness a modest upward trend in terms of production, driven by strong export demand for pork. Sugar production will grow modestly owing to the removal of the EU sugar quota in H217. but we note that Spain will not be able to compete with the strength of the French and German sugar producers. We also see output in the grains market being fuelled by short-term gains in the barley and wheat sub-sectors in 20 7 9 following a year of contraction in output across all three markets in 2018. A com output recovery is not expected until 2020.