Surprises Await Ag Economy and Italy Bans Cultivated Meat

Surprises Await Ag Economy and Italy Bans Cultivated Meat

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**Geopolitical factors, elections, and other surprises await the agricultural economy in 2024.

Possibilities in the Farm Journal and Purdue University’s

December Economists’ Monthly Monitor include China falling into a big recession, a second Farm Bill extension, and inflation supporting managed money returning to commodities.

Record beef imports wouldn’t be a surprise either, as well as a national corn yield bigger than 190 bushels per acre.

**China has been the world’s largest meat importer since 2019, but despite recent reductions in imported meat volumes, the country remains in the top spot.

In 2022, China imported 43% more than Japan, the second-largest meat importer in the world, followed by Mexico.

Issues such as disease, tougher laws addressing environmental issues, and an exodus of small-scale farmers have constrained China’s meat supply, boosting domestic prices and incentives to import.

**Italy is the first country to ban cultivated meat, the kind grown in laboratory bioreactors from stem cells.

Under a new law put into effect in November, lab-grown meat cannot be produced or marketed in Italy.

Singapore is the only country where people are currently eating cell-based meat.

The USDA and FDA have approved two kinds of cell-based chicken for human consumption.

The BBC says the top issue in most countries is food safety.

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