Sergey Feofilov, UkrAgroConsult, to speak at the IGC Grains Conference in London

Sergey Feofilov, Director General, UkrAgroConsult will take part in a Panel Discussion ‘Maize: How will livestock feed sectors navigate changing economic conditions?’ within the IGC Grains Conference in London on June 13.

The Panel includes:

• Emilce Terré, Rosario Board of Trade, Argentina
• Sergey Feofilov, UkrAgroConsult, Ukraine
• John Cunningham, John Thompson and Sons
• Cesar Castro-Alves, Itaú BBA Agribusiness Consultancy, Brazil
• Knud Buhl, Danish Bacon & Meat Council
• Miriam Morath, IGC

Maize (corn) is a critically important livestock feed ingredient, providing an excellent source of energy and starch. Annual feed maize consumption has averaged close to 700m t over the past five years, more than twice the volume of other coarse grains and wheat combined. Despite a long term uptrend in demand for animal proteins, global feed maize uptake is forecast to weaken in 2022/23, seen about 4% lower compared to the year before.

The unusually sharp y/y contraction is partly explained by elevated market prices, tied to tightening maize supplies, with a series of smaller harvests also limiting amounts available for on-farm consumption. The high cost of feed has aggravated inflationary pressures across the livestock production chain, resulting in efforts to better improve compound feed efficiency and the inclusion of more competitively-priced alternatives. Challenging economic conditions have also been a factor, with the squeeze in household incomes driving some changes in consumption of meat, eggs and dairy products. In addition, animal health disease concerns, especially related to highly pathogenic avian influenza, and drought-related herd reductions in some countries have also been a drag on feed demand.

Heading into 2023/24, the forum will provide an opportunity for attendees to discuss these unresolved challenges with key industry stakeholders.

Tags: corn, UkrAgroConsult, Sergey Feofilov, crop forecast