Regulatory changes and a favourable pipeline of GM crops hold upside risks for our forecasts on the uptake of GM in Sub-Saharan Africa. That said, broader structural problems in regional agribusiness value chains will constrain the growth of the GM market going forward. In particular, the dominance of low-income smallholders, a lack of regulatory harmonization between countries, and persistent...
Although the outlook for commodity prices compared with spot prices over the rest of 2017 is neutral, most of our price forecasts for 2017 remain for rises in prices on an annual average basis. We are positive on grains and oil from spot levels in H217; are neutral to slightly bearish on industrial metals; and negative on softs agricultural commodities and coal.
At the mid-way point in the year, we are assessing the performance of our agribusiness key themes for 2017 as outlined in December 2016 (see 'Key Themes For Agribusiness In 2017', December 2 2016). All of the themes we had identified have played out in a number of guises across the agribusiness sector.
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Thanks, BMI Research