Trends in the development of world agriculture in 2019 were outlined by Robert Johansson, chief economist at the U.S. Department of Agriculture.
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According to the official, the current year and the next decade will determine the following trends as a whole:
A 10% reduction in the proportion of people who would experience food shortages, even despite the rapid increase in the world's population.
Net income of world agriculture is projected at $ 80 billion, which is slightly higher than the failed indicator of 2018 at $ 66 billion, but also much lower than the maximum in 2013 - $ 134 billion. A decrease in the level of farm bankruptcies should also be expected. Five years ago, out of 10,000 farms, 3 households declared bankruptcy, but now this figure does not exceed 2.35.
The increasing losses of the agricultural sector due to trade wars with China. This year, experts predict a 90% drop in US soybean exports from the US to China (22 million tons in commodity terms). As a result, China will move from the first to fifth place in terms of the share of exports in the total volume of US foreign agricultural supplies, which is fraught with a fall in total US exports of $ 1.9 billion to $ 141.5 billion.
Also, the next decade will be characterized by a decrease in sown areas of winter wheat. Already this year, the volume of such areas will be only 47 million acres, which is the lowest figure over the past 110 years.
