China to Drive Commodity Demand for 10 Years: Rabobank
(Corrects headline, first and second paragraphs to show survey reflects commodity demand, not price.)
China will drive demand for food and farm products in the next decade, Rabobank International said, citing a poll it performed of food and agribusiness executives.
Sixty-one percent of the 350 executives polled said China will be the country or region to have the largest impact on commodity demand in the next 10 years, followed by India and Africa, the bank said today in an e-mailed statement. Forty percent said China will be the primary driver of world economic growth in the next 50 years. Weather extremes were cited by 68 percent of respondents as the biggest factor affecting North American food and agribusiness in 2013, ahead of consumer demand and government regulations.
Two-thirds of those polled said U.S. corn yields may top 200 bushels an acre by 2025, Rabobank said.
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