"Greece Agribusiness Report Q3 2014" is now available at Fast Market Research

BMI View: Disappointing figures for meat production in 2013 suggest that the industry has struggled even more than we had anticipated in coping with higher grain prices and the still dismal state of domestic consumer confidence. We see some relief coming in the shape of cheaper feed grains, but we are now even more cautious regarding the capacity of the industry to recover ground lost during the recession. Pork is a particular wo rry as the EU cracks down on Greece's lax enforcement of animal welfare standards. Lower prices for grains will lead to weak production growth, with corn particularly affected as it competes for acreage with cotton. Processed dairy products, particularly cheese and yoghurt will continue to outperform and changes to the milk market could see domestic demand recover further down the line.

Key Forecasts

* Pork consumption to 2018: up 2.0 % to 293 ,000 tonnes . Only marginal growth is expected as any recovery in household expenditure will be gradual.
* Cheese production growth to 2018: 21.9% to 239,000 tonnes. Exports of feta will lead the way in keeping the dairy segment a going concern.
* 2014 real GDP growth: 1.1% (up from -4.0% in 2013; expected to grow by 1.8% in 2015).
* 2014 consumer price inflation: -0.4% (up from -0.9% in 2013).
* BMI universe agribusiness market value: 8.2% year-on-year decline to US$2.31bn in 2014; forecast to grow by 2.0% in 2015.

Full Report Details at
- http://www.fastmr.com/prod/817906_greece_agribusiness_report_q3_2014.aspx?afid=303

Key Changes to Forecasts

* Sugar production growth to 2017/18: -18.1% to 3 5 6,0 00 tonnes. Down from a previous forecast of 620,000 tonnes. After increasing acreages dramatically in 2012/13, sugar growers have scaled back production for 2013/14 to 2011/12 levels, in response to lower prices and perhaps also uncertainty over the effects of the end to quotas in 2017.

Industry Developments

The General Court of the European Union upheld in April the Commission's (EC) decision ordering...

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.

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