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Real value of agri food demand in India poised to rise by 136% by 2050
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Thursday, 27 November, 2014, 08 : 00 AM [IST]
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Canberra
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fiogf49gjkf0d The real value of agri food demand in India is poised to rise by 136 per cent until 2050, reflecting strong income and population growth across the continent.
Karen Schneider, executive director, The Australian Bureau of Agricultural and Resource Economics and Sciences, released the figures in its report, ‘What India Wants: Analysis of India’s Food Demand to 2050’.
“This report assesses future trends in Indian food consumption, production and trade in one of the fastest growing economies in the world,” she added.
“Increasing income levels in India have led to a diversification of diets, with rising per person consumption of dairy products, fruit and vegetables,” Schneider said.
“Combined with a population growth rate that is one of the highest in Asia, that means food demand would increase significantly,” she added.
Under the current agricultural policies in India, consumption growth until 2050 is strongest for fruit (246%), vegetables (183%) and dairy products (137%), which together account for 77% of the total projected rise in food consumption by 2050.
“While the demand for food has largely been met by domestically produced products to date, food imports have also risen,” Schneider said.
“For many commodities, imports would continue to rise over the coming decades,” she added.
“India’s growth in agrifood imports would be predominantly driven by vegetables, which are projected to reach $47 billion by 2050,” Schneider said.
“Fruit imports are projected to reach $58 billion by 2050, with dairy products at $13 billion and wheat $15 billion also expected to rise significantly,” she added.
What India wants is part of the What Asia wants series, which analyses future food consumption and trade trends in Asian countries over the long term.
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