Recent Study: Greece Agribusiness Report Q1 2015

Favourable weather conditions leading up to the harvest period should provide support to wheat output, so we are forecast ing a modest 0.6% increase in output in the 2015 season . Within the livestock s ector, we are more optimistic on poultry output, as it is much more affordable than pork and beef. Meanwhile, insufficient sugar beets being cultivated in Greece will weigh on long-term sustainability of its sugar industry.

Key Forecasts

* Poultry consumption to 2018: up 16.4 % to 195,000 tonnes . The cheaper price of poultry meat will see it continue to gain ground against the more traditionally-favoured beef and pork.
* Cheese production to 2018: up 22.0 % to 239,000 tonnes. Exports of feta will lead the way in keeping the dairy segment a going concern.
* 2015 real GDP growth: 1.2% (up from an estimated 0.2% in 2014; expected to grow by 1.2% in 2016).
* 2015 consumer price inflation: -0.5% (up from an estimated -1.1% in 2014).
* BMI Universe A gribusiness M arket V alue: Forecast to grow by 0.6% to USD11.9bn in 2015.

Full Report Details at
- http://www.fastmr.com/prod/924158_greece_agribusiness_report_q1_2015.aspx?afid=301

Industry Developments

Greece's only sugar company Hellenic Sugar Industry (EBZ) announced in July that it is closing two of its three plants. The company has described the closures as temporary and as part of a restructuring programme to reduce costs and modernise the operation by updating the power supply. However, local media report that some workers have been offered voluntary redundancy packages. Piraeus Bank, the main creditor of the stricken company, supports the move as a way of reducing operating losses which reached EUR27mn in the first eight months of FY2013/14 with loans totalling EUR137mn. The longer-term future of the Greek sugar industry seems to be hanging in the balance, with production forecast to trail off even before the advent of the increased competition we expect in 2017 when quotas come to an end.

The European...

The Greece Agribusiness Report features Business Monitor International (BMI)'s market assessment and independent forecasts for production, consumption and trade across core agricultural commodities.

BMI's Greece Agribusiness Report includes independent commodity price forecasting and analysis for key agricultural outputs, an overview of the agribusiness competitive landscape and a discussion of the downstream context of agricultural production in relation to country food consumption forecasts and composite food and beverage trade forecasts.

Key Benefits

* Use BMI's independent industry forecasts to test other views - a key input for successful planning in dynamic agribusiness markets.
* Apply BMI's medium-term commodity price analysis to assist with budgetary planning and the identification of investment opportunities and potential risks.
* Assess the activities and market position of your competitors, partners and clients.

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