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Market Report, "Greece Agribusiness Report Q1 2014", Published

Recently published research from Business Monitor International, "Greece Agribusiness Report Q1 2014", is now available at Fast Market Research

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Boston, MA -- (SBWIRE) -- 12/31/2013 -- The dairy sector is expected to show continued expansion in 2014, especially for cheese, with exports remaining the key to the sector's future. Sugar farmers have drastically increased acreages in 2012/13 and 2013/14, suggesting the presumption that the EU's sugar quota regime is a lame duck despite the official phasing out being delayed until 2017. The corn harvest has had a slight setback as the hot dry weather in July and August caused a minor reduction in yields. Demand for livestock, with the exception of poultry, will remain weak, as producers gain limited respite with cheaper corn prices expected over the next three years.

Key Forecasts

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- Poultry consumption to 2017: up 14.0% to 179,100 tonnes. The relative affordability of poultry meat will see it continue to outperform other livestock produce.
- Cheese production growth to 2017: 18.8% to 231,700 tonnes. Exports of feta will lead the way in keeping the dairy sector a going concern.
- 2014 real GDP growth: 1.1% (up from -4.2% in 2013; expected to grow by 1.8% in 2015).
- 2014 consumer price inflation: -0.2% (up from -1.1% in 2013).
- BMI universe agribusiness market value: 5.3% year-on-year decline to US$2.82bn in 2014; forecast to grow by 0.8% in 2015.

Key Changes to Forecasts

- Sugar production growth to 2013/14: 42.6% to 620,000 tonnes. Up from a previous forecast of 425,000 tonnes. Producers increased acreages dramatically in 2012/13 and are expected to do so again this year as they hope for a more lenient EU approach in the twilight of the quota regime and more demand from the biofuels industry.

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