Demand for food is a product of population growth and rising income per capita. World population is expected to reach 7.7 billion by 2020 and 9.2 billion by 2050¹. Income per capita is rising faster in developing countries (classified as middle income)². Real income growth is expected to increase caloric intake by 1.4% per annum, primarily from increased demand for meat, poultry and cereals and global food production is expected to have to increase by 70% to meet demand in 2050³.

_{1 Source: UN Population Division
2 Source: World Bank
3 Source: Food and Agriculture Organization (“FAO”) and Credit Suisse}