Market Report, "Italy Agribusiness Report Q2 2016", published

We have a mixed outlook for Italian agribusiness in our Q2 16 report update. We believe that cheese, milk, poultry and por k will record stable growth over the course o f our forecast period out to 2020. The removal of the EU's milk production quota in 2015 and the opportunity for Italy to develop its value-added exports will be positives. We expect corn production to post the strongest growth out of the grains complex, largely due to base effects, as we believe wheat output will remain broadly flat due to little opportunity for growt h in planted area or yield s.

Key Forecasts

Poultry production will record growth of 1.3% in 2015/16 to reach 1.29mn tonnes.
Pork production will reach an estimated 1.70mn tonnes.
Liquid milk consumption will reach 2.32mn tonnes in 2015/16, with a growth rate of 4.0%.

Full Report Details at
- http://www.fastmr.com/prod/1130932_italy_agribusiness_report_q2.aspx?afid=302

Latest Updates & Structural Trends

The outbreak of highly pathogenic avian influenza in August 2014 led to a ban on live poultry and egg imports into Russia from Italy in January 2015. Russia was a major buyer of Italian poultry, but we believe that this should not affect production significantly as the ban, which includes poultry upkeep and slaughter equipment, will be lifted upon clearance of the virus. At the time of writing, the virus has been relatively confined.

The 2015 heat wave in Europe, which threatened to reduce EU-28 corn crop yields by up to 19%, could have a devastating effect on Italy's corn production harvest for the year. We are cautious about this current development as neighbouring France is already bracing itself for a severely reduced corn harvest this year.

The trade relations ban with Russia is consistently challenging European Union exports and we will continue to monitor the situation as it unfolds. A prolonged Russian ban will ensure reduced exports for premiums goods from Italy such as ham and cheese, thus pressuring vendors in Italy and the European Union at large.

The Italy Agribusiness Report features BMI Research's market assessment and independent forecasts for production, consumption and trade across core agricultural commodities.

BMI's Italy 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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