Surprises await the agricultural sector and Italy bans cultivated meat
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.
Opportunities at Farm Journal and Purdue University
Economists' December Monthly Monitor expects China to enter a major recession, the Farm Bill to be extended for a second time and inflation to support the return of managed money to commodities.
Record beef imports would also come as no surprise, as would national corn yields of more than 190 bushels per acre.
**China has been the world's largest meat importer since 2019, but despite recent declines in imported meat volumes, the country remains at the top.
In 2022, China imported 43% more than Japan, the world's second largest meat importer, followed by Mexico.
Problems such as disease, stricter environmental laws and the exodus of small farmers have limited China's meat supply, driving up domestic prices and creating incentives for imports.
**Italy is the first country to ban cultured meat, the kind grown from stem cells in laboratory bioreactors.
Under a new law that came into force in November, lab-grown meat cannot be produced or marketed in Italy.
Singapore is the only country where people currently eat cell-based meat.
The USDA and FDA have approved two types of cell-based chicken for human consumption.
According to the `, food safety is the biggest issue in most countries.
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