Global demand Sample Clauses

Global demand. The level of global demand for agricultural raw commodities (including for feed, food, fibre and fuel uses) directly affects producers’ strategies through its effect on world prices. In principle, a higher demand (relative to the supply) leads to higher prices. However, this relationship between global demand and world prices is not that linear, since a large share of the international trade of agricultural commodities is done through financial markets that have proven more and more vola- tile over the last 15 years due to increased speculation (Xxxxx & Helleiner, 2012). Over the past decades, the idea that has dominated among agricultural players was that the level of global xx- xxxx was likely to grow steadily, given the demographic growth and the nutritional transition in emerging countries16. This idea prompted the consolidation of productivist strategies across Eu- rope at an institutional level: producers were encouraged and incentivized to produce more to supply global markets, the plan being for Europe to reinforce its position of a global player on the world market. As a result, the export market is now a major outlet for the agricultural sector in Europe and an important contributor to GDP of the EU, which resulted in a positive trade balance of more than 18 billion euros in 2016 (+131 billion euros of exports) and in the EU being the top world agricul- tural exporter since 2013, ahead of the US. Given that the EU market is considered as relatively saturated, the European Commission expects that 90 percent of the additional world demand of agri-food products for the next 10-15 years will be generated outside Europe (Copenhagen Eco- nomics, 2016). To elaborate on what we indicated above on the many links between the different drivers, it should be mentioned here that the way in which the level of global demand affects producers’ strategies also depends on trade policies. Over the last decade, the EU has sought to take ad- vantage of the high level of global demand by signing free trade agreements (FTAs), mainly be- cause income and employment in the EU agri-food sector are considered to be dependent on ac- cess to export markets. The combination of high global demand with the development of FTAs with numerous countries / regions over the last 15 years has thus further encouraged productivist strategies.
Sample 1
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