Latin Americas per capita income will grow by 1.8% annually over the next decade, according to the OECDFAO Agricultural Outlook 20242033.This growth rate exceeds the global average of 1.6% and will act as a key driver of food demand, especially for animal products and higher-value processed foods.For global food producers and agri-traders, this presents both market opportunities and logistics challenges.
Rising income means changing diets.As consumers across Brazil, Mexico, Argentina, and Colombia gain purchasing power, demand for meat, dairy, and packaged foods will rise.This shift directly supports agricultural growth across the region, where key exports already include soybeans, maize, beef, poultry, fruit, and coffee.The OECD expects global food production to increase by 14% by 2034, with nearly half of that driven by developing and emerging economies.Income Gains Position Latin America as a Pillar in Future Food Supply.
(Photo Internet reproduction)India and Southeast Asia will account for 39% of the expected global food consumption growth, but Latin Americas expanding middle class will also influence trade flows.As consumption grows, Latin America will likely consolidate its role as one of the worlds top food-exporting regions.
However, to meet rising demand, the region will also need to expand productivity by 15% while reducing emissions by 7%, according to OECD and FAO targets.The report projects that 22% of global food production will cross borders before reaching final consumers.
This makes stable international trade flows essential.Countries in Latin America must improve infrastructure, standards, and trade procedures to meet global demand consistently while reducing price volatility.This is particularly important as global agricultural supply chains remain under pressure from energy costs, climate variability, and input price inflation.Latin America: Major Agricultural Exports & Economic Outlook (2025)CountryGDP Growth (%)Inflation (%)Major Agricultural ExportsOutlook NotesArgentina~1.82.75.0Soybeans, Maize, BeefRebounding from contraction, fiscal challenges remain.Brazil~1.82.1Soybeans, Poultry, CoffeeLeading global agri exporter, growth driven by demand.Chile~1.72.4Fruit, Wine, FishIndustrial recovery and strong external demand.Colombia~1.61.82.5Coffee, Flowers, BananasInvestment rebound, facing inflation pressures.Costa Rica~2.04.0Bananas, PineapplesStrong services sector and steady agri expansion.Dominican Rep.~2.25.2Sugar, Cocoa, BananasRapid post-pandemic recovery, strong productivity.Ecuador~1.71.21.6Bananas, Shrimp, FlowersFiscal constraints, modest growth.Mexico~1.60.4Avocados, TomatoesGrowth slows due to US trade policy, exports vital.Panama~2.0~2.5Fish, BananasHigh per capita gains past decades, logistic strengths.Paraguay~1.73.8Soybeans, BeefAgro-driven growth, energy exports growing.Peru~1.83.0Coffee, Asparagus, FishFiscal consolidation, rising food productivity.Uruguay~1.8~2.53.0Beef, Soybeans, DairyStable export-driven growth, efficient agri sector.VenezuelaN/A5.0Oil, Coffee (declining)Volatile, forecasts uncertain due to policy shifts.Projected Regional Annual Growth Rates (20242034)RegionProjected Annual Growth (%)Latin America & the Caribbean1.8%Global average1.6%India5.4%China3.8%Southeast Asia2.9%North America1.5%Europe & Central Asia1.5%North Africa & Middle East1.3%Sub-Saharan Africa1.1%