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The drought in Andalucía is anticipated to prevent further expansion of Spain’s cotton area in MY 2023/24. Irrigation water allocation will be critical for farmer’s planting decisions, and temperatures and pest incidence during the summer months will also determine final yields.
In 2022, Spain imported $2.1 billion worth of agricultural, seafood and forest products from the United States, up 27 percent compared to the previous year. After high rates of consumer price inflation in 2022, the latest European Union economic forecast shows Spain’s economic growth forecast at 1.4 percent in 2023 and 2.0 percent in 2024.
Following the economic crisis, Portugal’s livestock production has bounced back and is expected to continue expanding during 2019.
In 2018, Spain imported $2.35 billion worth of agricultural, fish and forest products from the United States.
Sufficient water reservoirs and good 2018/19 cotton prices will contribute to maintaining a comparable cotton planted area in MY2019/20.
Over the last two years, the restructure of the Spanish dairy industry significantly increased efficiency in domestic production.
Spain’s production of swine and pork continue to grow, reaching new record levels in 2017.