January 6, 2015

By the year 2050 the real value of agrifood demand in India is on pace to increase by 136%, reflecting significant income and population growth across the continent according to a report released by the Australian Bureau of Agricultural & Resource Economics and Sciences (ABARES). The report titled ‘What India Wants: Analysis of India’s Food Demand to 2050’ found through the examination of future food trends, that income growth in the country (which is one of the fastest growing economies on earth) has led to diet diversification, with growth in per capita consumption of dairy (137%), fruits (246%), and vegetables (183%) accounting for 77% to total growth in food demand by 2050. In addition, taking into account India’s rate of population growth which is one of the highest in Asia, food demand will see a significant increase.  Indian imports of vegetable is projected to reach a value of US$47 billion (in 2009 dollars) by 2050, imports of fruit are expected to increase to a value of US$58 billion, while dairy imports are expected to be US$13 billion, and wheat imports will be US$15 billion representing opportunities for expanding future trade flows.

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