According to a report by the UN and OECD report, India is expected to be the world’s largest milk producer by 2026 and will account for the biggest increase in wheat production globally in the coming decade. The OECD-FAO Agricultural Outlook 2017-2026 said the world’s population will increase from 7.3 to 8.2 billion over the course of the next decade with India and Sub-Saharan Africa accounting for 56% of total population growth.
While India which already has a population of almost 1.3 billion is expected to increase to 1.5 billion. As speculated, India will overtake China and is projected to be the most populous country in the world by 2026. This growing population will also increase global demand, said the report. It further said that over the first quarter of the 21st century, milk production in India will be nearly tripled.
“Over the course of the outlook period alone, milk production in India will grow 49%; in 2026, India will be the world’s largest milk producer, with an output one-third above that of the second largest producer, the European Union,” said the report by the UN and Organisation for Economic Cooperation and Development.
Notably, the global production of wheat is projected to increase by 11% over the outlook period of 2017-2026, while the wheat area increases by only 1.8%. The increase in wheat production is expected to occur through higher yields, most notably in Asia and Pacific, which will account for 46% of additional wheat production.
The report further added that the global food commodity prices will remain low over the next decade compared to previous peaks, as demand growth in a number of emerging economies is expected to slow down and biofuel policies have a diminished impact on markets.
