'Global food demand to double by 2050

Global demand for food will more than double by 2050, and by the same year traditional energy supplies will be insufficient to meet demand, said the chief executive of a company involved in food and energy production.

By LAVONNE KUYKENDALL, MARKETWATCH
November 9, 2006 07:01

MarketWatch: In-depth global business coverage Global demand for food will more than double by 2050, and by the same year traditional energy supplies will be insufficient to meet demand, said the chief executive of a company involved in food and energy production. Calling her company a "category of one," Archer Daniels Midland Co. Chief Executive said the company has the ability to keep its leadership position in the renewable energy and food processing businesses. Demand for food will grow not only because of population growth, but because people worldwide are seeing improved quality of diet, and eating more meat. Demand for ethanol and biodiesel fuel is growing more quickly than production capacity in both the US and Europe, Woertz said. The two trends "point to a bright future" for ADM, she said, adding that the company will maintain its lead in both industries. She also said ADM is launching strategic management initiatives to improve its capital project management, investment screening and execution, to review its businesses for strategic fit, and to monitor performance and align its talent with strategic objectives. MarketWatch: In-depth global business coverage


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