Some grain analysts say even though we’re growing more grain throughout the world, we’re still seeing a lot more demand. There’s only one problem, the world’s population growth.
Over the last 50 years the world’s population has grown tremendously, but has it reached a tipping point?
“The average woman is having a lot fewer kids then what was the case 30 to 40 years ago. Population growth has been slower for a long time in Europe and North America. We’re starting to see the same pattern across the world as well,” Dr. Pat Westhoff, Director of the Food and Agricultural Policy Research Institute at the University of Missouri, said.
He says this could pose several problems for the Ag sector.
“If the slower population growth translates into a lot slower growth in agricultural demands, that’s a very big negative for the sector. We are seeing changing in diet that have increased per capita consumption of many Ag products. That is what has been able to keep demand growing at a good rate.”
He adds going forward the question is, “Can we continue to see those rates of growth in per capita consumption we’ve seen over the last couple decades?”
Westhoff spoke at the 90th annual Soil Management and Land Valuation Conference Wednesday morning.