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July 1, 2014
11:27 EDTMOSMosaic says pent-up grain and oilseed demand 'unleashed' in 1H
Mosaic notes that one highlight from the first half of the year is the "unleashing" of pent-up grain and oilseed demand . The company said in its newsletter reviewing first-half highlights, "Global grain and oilseed use was nearly flat in 2012/13 due to a smaller-than-expected crop and record-high prices for several agricultural commodities. In fact, global grain and oilseed use increased a paltry 0.5% in 2012/13 compared to a compound annual growth rate, CAGR, of 2.4% during the previous five years. The decline in crop prices following the record-smashing 2013/14 harvest quickly unleashed enormous pent-up demand. The latest USDA projections show that global grain and oilseed use will jump 4.4% in 2013/14 thanks to ample supplies and more moderate prices."
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