Latin America is consolidating as the largest net exporter of food, according to an FAO report that says it is one of the world’s main suppliers. Latin America has become the largest net exporter of food in the world, surpassing South America. North America in the early 2000s, and has shown an upward trend since then, according to a new report from the Food and Agriculture Organization of the United Nations (FAO).
The published analysis shows that this trend will continue in the future: by 2024, the net trade in agricultural products in Latin America would reach 60 billion dollars, three times more than the value recorded in 2000.
FAO adds that while in Africa all major commodities are net imports, in Latin America most major commodities are net exports. In this line and product of supply to Asia and Africa, a number of Latin American countries are becoming major global suppliers of some of the major staple foods.
Meanwhile, projections of the state of the market for agricultural products (Soco) show that by 2023, Latin America would maintain its position of surplus in most products. The exports The net export of coarse grains for that date by 2023 would reach 21.8 million tons, and the export of oilseeds would grow to 49.7 million tons.
On the contrary, in the case of rice and wheat, the region would maintain its commercial position with negative balances of 1.2 and 7.1 million tons, respectively. In the case of sugar, Latin America projects a trade balance to exceed 38 million tons by 2023, a result largely due to that of Brazil, a country currently responsible for more than half of world exports.
After North America, Latin America will establish itself as the second net exporter seeds oilseeds and poultry, which will reach balances of 57.7 million tons and 3.7 million tons by 2023, respectively.
Furthermore, using its unique position as a food producer, Latin America and the Caribbean created its first regional network of public food supply and marketing systems in October this year, whose first member countries are Brazil, Bolivia, Chile, Costa Rica, Ecuador and Saint Vincent and the Grenadines.