New Food market report from Business Monitor International: "Algeria Agribusiness Report Q1 2015"
Boston, MA -- (SBWIRE) -- 11/21/2014 -- With wheat and dairy production falling consistently short of consumption, Algeria is a major importer of food products. However, the government's new emphasis on improving food self-sufficiency is helping the grains and dairy sectors to rebound. Increases in government support will be positive for productivity and product quality in the medium term. However, the country will remain a key importer of wheat and dairy products in the coming years. Algeria is increasingly expanding trading links with countries such as Brazil and India, especially for dairy and beef products, and away from its traditional suppliers such as France.
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Key BMI Forecasts
- Wheat consumption growth to 2018: 12.3% to 10.6mn tonnes. Wheat consumption will be mainly supported by population growth.
- Milk production growth to 2017/18: 14.4% to 3.9mn tonnes tonnes. Our projections are based on the government's support for the sector and its plan to develop it by improving breeding methods as well as restructuring and further privatising segments of the agriculture industry.
- Barley production growth to 2017/18: 3.8% to 1.6mn tonnes. Our forecast errs on the side of caution. Significant changes to the size of the harvested area from one year to the next are a fairly regular occurrence in Algeria, reflecting the limited availability of water and irrigation.
- BMI universe agribusiness market value: USD19.9bn in 2014 (growth to average 2.1% annually between 2014 and 2018).
- 2015 real GDP growth: 3.4% (up from 3.2% expected in 2014; predicted to average 3.5% over 2015-2018).
- 2015 Consumer price inflation: 4.0% (up from 2.5% expected in 2014; predicted to average 4.5% over 2015-2018).
Key Revisions To Forecast
- Wheat and barley 2014/15 production revised down to 2.8mn tonnes and 1.2mn tonnes respectively (compared with previous forecasts at 3.6mn tonnes and 1.7mn tonnes...
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