Food industry positioned to thrive
Despite twists and turns in world events in recent months, there is good cause – and four definite positives – to be optimistic about the future of the food and agriculture industry, which is well positioned to adjust successfully to the changing times. This is according to Juan Luciano, chairman and chief executive officer of Archer Daniels Midland Co, speaking to members of the National Grain and Feed Association during their annual meeting in New Orleans in March.
Firstly, the percentages of the world’s population living in poverty have been halved in the last 20 years, and a growing middle class in these countries is emerging. Second, other nations and regions are rising to compete with the United States in world markets, including agricultural markets. A third feature is the shift in consumer preferences and expectations with regard to the health and nutrition. And fourth, both challenges and opportunities are created by the phenomenal pace of technological change.
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