A European Commission forecast on Europe’s food sector is shining a ray of optimism amidst the gloom of recession doomsayers, predicting a solid recovery for the food industry.
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Its experts are even forecasting sector incomes being 7.5% above 2007’s record year by 2015, “despite the significant short-term setback in the wake of the economic crisis”.
Brussels’ ‘Prospects for agricultural markets and income 2008-2015’ singles out the dairy sector for particular problems however. Last year’s collapse in prices for manufactured products should depress milk prices this year, predicts the Commission, causing “a slight contraction in…production”.
The report branded “medium-term prospects for the EU meat sector “moderately positive”, with increased production and consumption of poultry and pigmeat, but falls in production of beef and sheep/goat meat.
* Full report http://ec.europa.eu/agriculture/publi/caprep/prospects2008/fullrep_en.pdf
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