From Presna Latino

Santiago de Chile, July 9 (Prensa Latina) Latin America and the Caribbean will contribute over 25 percent of world´s agricultural and fishing product exports by 2028, according to FAO.
Such goal is included in the Agricultural Perspectives 2019-2028 report, done jointly by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO).

The report points out that regional agricultural output will continue growing during this period, even though poor domestic and international demand may influence on slower growth.

It indicates that crops will go up 22 percent including 16 products; accounting for seven and two percentage points, respectively, above global average.

The increased exports will go on being of great significance for Latin American and Caribbean nations, and while it will also slow down, the region’s comparative advantage in many agricultural products will allow it to capture a greater share of world markets.

According to the FAO report, both agricultural and fishing production in Latin America and the Caribbean has increasingly grown by 2.7 percent per year, and the area currently accounts for 14 percent of world agricultural production and 23 percent of agricultural and fishing exports.

By 2028, the region is expected to produce 18 percent of the world total corn production, four percent of rice and one fifth of wheat, the reports forecasts.

For more on this story go to: https://www.plenglish.com/index.php?o=rn&id=44164&SEO=latam-and-the-caribbean-for-25-of-world-agricultural-sales-by-2028