The recent agricultural outlook report published by the Organisation for Economic Co-operation and Development (OECD) and Food and Agriculture Organization (FAO) reveals that India and Pakistan will play a pivotal role in the global milk production landscape from 2023 to 2032. Although the growth rate is projected to decrease, these two nations are expected to collectively contribute to half of the overall expansion in milk production worldwide.
According to the recently released OECD-FAO Agricultural Outlook 2023-2032, although India’s ethanol production is projected to increase twofold by 2032, its consumption is still expected to surpass the production levels. The report also highlights a decline in the growth of major cereals and oilseeds production, except for coarse grains, compared to the previous decade.
The anticipated annual growth rate of milk production is projected to decline to 2.54% between 2023 and 2032, contrasting with the previous decade’s growth rate of 3.78% from 2013 to 2022. However, despite the overall slowdown, India is expected to witness an increase in its global share, rising from an average of 21% in 2020-22 to 24% during the specified period.
Conversely, when it comes to pulses, there is an expectation of faster production growth between 2023 and 2032 compared to the previous decade.
