NEW YORK, Nov. 28, 2016 /PRNewswire/ -- Includes 3 FREE quarterly updates
Increasing incomes and populations will see South West Africa enjoy long-term growth in corn production, however, this is not reflected within our forecast period owing to a sharp contraction in output in 2015/16 from which it will take all three nations we are covering time to recover the losses endured.
During the five-year period through to the end of our forecasts in2019/20, we see consumption growth outpacing production growth in both Angola and Namibia; meanwhile in Botswana, this balance will be reversed. The strongest growth in demand is expected in Angola where a third consecutive year of consumption growth is predicted for 2015/16. After a sharp decline in 2016/17, we are forecasting a more modest and more consistent rate of growth for the remainder of our forecast period. In the sugar sector, we see production in the key market of Angola beginning to slow throughout the forecast period, thanks to cheap imports from Brazil and China competing with an oversupply of local production across African sugar markets - following a period of significant production over the past decade.
- Angola corn production from 2015/16 to 2019/20: -2.8% to 1.4mn tonnes. Insufficient rains during the cropping season caused widespread crop failure and caused a large-scale slump in output in 2015/16. Following a sharp decline in output in 2016/17, we expect production growth to ease off through the duration of our forecast period. Since our last quarterly update, we have revised downwards our corn production forecasts for each full-year period starting in 2016/17 and through to 2019/20.
- Angola corn consumption growth from 2015/16 to 2019/20: 2.4% to 1.84mn tonnes. Namibia corn consumption growth for 2015/16 to 2019/20: 1.4% to 214,240 tonnes. Since our last quarterly update, we have revised downwards our forecast for corn consumption in Angola for 2016/17 and for each full year period through to 2019/20.
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