BRICS To Overtake US In Agricultural Production In 5-10 Years - South African Federation

The five-nation BRICS club Brazil, Russia, India, China and South Africa will outrun the United States in terms of agricultural production volume in the next five to 10 years

GENEVA (UrduPoint News / Sputnik - 15th October, 2018) The five-nation BRICS club Brazil, Russia, India, China and South Africa will outrun the United States in terms of agricultural production volume in the next five to 10 years, Omri van Zyl, the executive director of the federation of South African agricultural organizations (Agri SA), told Sputnik.

"I think the BRICS partners have the potential to do so. All five have their distinct local challenges, but as the populations of China, India and Africa grew BRICS certainly have the opportunity to expand their global agricultural footprint. China is already very active in Africa, and India is also positioning itself to be a force to be reckon with, so in the next five to 10 years' time BRICS might overtake the United States," the Agri SA executive director said.

According to the BRICS Agricultural Development Report 2017, the average annual growth of gross agricultural production of BRICS countries exceeds 10 percent.

BRICS is an association of five developing economies, which is aimed at enhancing cooperation in a number of areas. The club's countries have a combined nominal GDP equivalent to approximately 20 percent of the gross world product.

The BRICS member states hold the presidency of the international organization on a rotating basis. Since January 1, South Africa has taken over the presidency from China.