European Commission Publishes a New Agriculture Production and Markets Forecast
The European Commission has published a report presenting a short-term agricultural markets’ outlook. The report covers production, exports and imports and the overall situation of global markets for several sectoral products, including dairy, cereals, oilseeds, pigmeat, poultry and beef. For the first time, the report also covers tomatoes, peaches and nectarines.
Due to adverse weather conditions, cereal yields are expected to slightly decrease. Bad weather is also expected to impact EU oilseed harvest. One sector that however benefits from the climatic conditions is the olive oil with a production expected to be close to record levels of last years.
Concerning milk, the growth in EU milk collection has been lower than anticipated and the demand for EU dairy products is expected to stay strong both on domestic and global markets. This should lead to an increase in milk price in the EU in the second half of the year. The full in-depth analysis is available here.
