EU publishes short-term agriculture outlook

Published 2020년 7월 12일

Tridge summary

The European Commission's recent economic outlook for agriculture reveals a resilient food supply chain amidst the COVID-19 crisis, with good production prospects across various sectors including dairy, sugar, pigmeat, olive oil, wine, and tomato. Despite uncertainties, the reopening of food service businesses is expected to boost demand. However, cereal production is predicted to decrease by 2.7%, and sugar production to stay the same despite lower demand. EU milk collection is anticipated to increase by 0.7%, and while beef and poultry production are expected to decline by 1.7% and 2% respectively due to reduced demand and logistical issues, pigmeat production is set to increase by 0.5% due to favorable prices and export prospects. Sheep and goat meat production is predicted to decline by 1.5%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Union's most recent short-term economic outlook identifies good production prospects across multiple agriculture sectors, with huge boost coming from reopening food service businesses. Many uncertainties remain around the scale of the impact of the coronavirus crisis and the economic recovery. Nonetheless the food supply chain has proven resilient throughout the crisis. With lockdown measures being progressively lifted all over Europe, demand in particular for restaurants, bars and cafés should pick up, although not back to 2019 levels in the short run due to reduced households’ purchasing power. Prices are also picking up as a consequence. As noted in the spring edition of this short-term outlook, the COVID-19 outbreak and related measures taken by Member States created a demand shock rather than a supply one. This is reflected in the good production prospects for various sectors such as dairy, sugar, pigmeat, olive oil, wine and tomato. Exports perspectives remain ...

Source: The Cattle Site