Agricultural products refer primarily to grains and oilseeds, which include cereals, such as maize, wheat, rice, rye or barley, as well as seeds grown primarily for the extraction of their oils, notably sunflower and oliveoil. Mainly used for human and animal consumption, a relatively small proportion has been recently distributed to the production of biofuels, which can be used as a substitute for fossil fuel to power vehicles, or blended with gasoline.
The major drivers of increasing demand for food and feed globally are a growing population and increasing wealth, resulting in a shift toward more meat based diet for many and increasing demand for animal feedstuff, typically made from maize, rye or wheat. For wheat alone, global exports grew by 37% to 137 million tonnes from 2000 to 2012. Wheat exports to Asia over the same time rose by as much as 28 million tonnes, or by 75%. Due to its rising meat consumption, China has now become the world’s largest soybean importer, buying over two thirds (69%) of the globally traded market. For 2000, it was only a quarter.
For RUI-WAMBA & PARTNERS, with its extensive experience as an international physical distributor, extending the business to grains and oilseeds was a natural extension for our trading and shipping.