Flour consumption to reach 400 mln t by 2025 — expert
Considering the current growth rate of the world population and trends in flour production, by 2025 the volume of world flour consumption may increase by about 20 mln t compared to the current level and reach apx. 400 mln t, the APK-Inform consultancy reports.
"At the same time, it should be taken into account that the growth rate of global flour consumption is decreasing and, in the coming five years, the average annual growth of this indicator is expected at 1.2%," stated Rodion Rybchinsky, the head of the Association Millers of Ukraine.
According to him, the volume of global flour trade remains relatively stable over the past few seasons and is estimated at 14.1-14.7 mln t annually. At the same time, amid falling prices for products, the volume of trade in monetary terms is marked by a downward trend.
"Of this trade volume, about half falls on localized markets, which are covered by one or two suppliers. Thus, the capacity of the relatively free world market, where product suppliers compete, is now estimated at 7.5-7.8 mln t," added Rodion Rybchinsky.
As reported earlier, UKRPROMINVEST-AGRO subsidiary, Vinnytsya Bread Factory No.2, dominated flour production in Ukraine in 2019 with 167.9 thou. t of output.
The new edition of the infographic guide Ukrainian Agribusiness 2018/19 is available for download.