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Follow on Google News | Market Report, "Greece Agribusiness Report Q2 2011", publishedNew Food and Beverage research report from Business Monitor International is now available from Fast Market Research
Key Views * Poultry production to fall slightly in 2010/11 to 169,500 tonnes; pork output to fall 1.5% to 106,240 tonnes; beef to drop 1% to 55,310 tonnes. * Financial crisis likely to exert downward pressure on wheat prices and starve the industry of investment over the forecast period. Production to fall from 1.83mn tonnes in 2009/10 to 1.77mn tonnes in 2014/15. * In 2010/11, we forecast Greek rice production to increase by 3.0% to 209,900 tonnes. Due to expected yield gains, we now forecast production in 2014/15 to increase to 217,000 tonnes. * Less efficient dairies are likely to go out of business, credit will be difficult to secure and investment will be scaled back. However, we expect the dairy industry to maintain positive growth. In 2010/11 we now forecast another slight increase in milk output to 2.06mn tonnes. Industry Developments Commitment to deeper fiscal cuts has prompted a revision to our 2010 growth estimate to -4.6% from a previous -2.0%. The Bank of Greece (BoG) announced on February 15 2011, that the country's GDP is expected to continue shrinking for a third straight year. BMI estimates the Greek economy contracted by 4.6% in 2010 while the BoG estimates another 3% contraction in 2011. In fact, the bank noted that it would not rule out a 'slightly bigger fall'. Additional spending cuts will also fuel public discontent, resulting in further demonstrations and national strikes which will continue to cripple the economy. Under the May agreement with the EU and IMF, the Greek government targeted a reduction of the deficit to 7.6% of the GDP. In November 2010, the Greek Finance Ministry stated that the deficit for 2010 represented 9.4% of GDP and announced a target of 7.4% of GDP for 2011. The data indicates that the Greek economy is double-dipping. This is reflective of the enormous fiscal consolidation efforts under way, a substantial deterioration in investor sentiment, as well as sporadic national strikes which have crippled economic activity. The European Commision should come up with new proposals for the dairy industry based on the UN's High Level Group report in December. One is likely to be boosting farmers' bargaining power by establishing contractual arrangements between them and the dairy processing industry. A futures market for dairy may also be recommended with a view to decreasing volatility. It is difficult to predict exactly what form these proposals will take, but they will likely have influenced Greek dairy production by the end of our forecast period. For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: SWOT Analysis - Greece Agriculture SWOT - Greece Political SWOT - Greece Economic SWOT - Greece Business Environment SWOT Industry Forecast Scenario - Greece Grain Outlook - Table: Greece - Wheat Production & Consumption - Table: Greece - Corn Production & Consumption - Table: Greece - Barley Production - Table: Greece - Wheat Production & Consumption - Table: Greece - Corn Production & Consumption - Table: Greece - Barley Production - Greece Rice Outlook - Table: Greece - Rice Production, Consumption & Trade - Table: Greece - Rice Production, Consumption & Trade - Greece Livestock Outlook - Table: Greece - Poultry Production, Consumption & Trade - Table: Greece - Pork Production, Consumption & Trade - Table: Greece - Beef & Veal Production, Consumption & Trade - Table: Greece - Poultry Production, Consumption & Trade - Table: Greece - Pork Production, Consumption & Trade - Table: Greece - Beef & Veal Production, Consumption & Trade - Greece Dairy Outlook - Table: Greece - Milk Production, Consumption & Trade - Table: Greece - Butter Production, Consumption & Trade - Table: Greece - Cheese Production, Consumption & Trade - Table: Greece - Milk Production, Consumption & Trade - Table: Greece - Butter Production, Consumption & Trade - Table: Greece - Cheese Production, Consumption & Trade - Greece Sugar Outlook - Table: Greece - Sugar Production & Consumption - Table: Greece - Sugar Production & Consumption Competitive Landscape - Table: Agricultural Commodity Producers & Traders - Table: Agribusiness Suppliers - Table: Integrated Agricultural Producers Commodity Price Analysis - Monthly Softs Update - Cocoa - Table: Cocoa - Coffee - Table: Coffee - Milk - Table: Milk - Sugar - Table: Sugar - Grains Update - Corn - Table: Corn - Rice - Table: Rice - Soybean - Table: Soybean - Wheat - Table: Wheat Downstream Supply Chain Analysis - Industry Forecast Scenario - Consumer Outlook - Food - Total Food Consumption - Table: Food Consumption, 2006-2015 - Prepared/Canned Food - Table: Canned Food Sales, 2006-2015 - Confectionery - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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