Authors
Andrew Garthwaite, Lars, Kjellberg, Charlie Mills, Rob Moskow, Tingmin Tan, Luiz Otavio Campos, Mark Flannery
Based on a previous report "Higher Agricultural Prices: Opportunities and Risks" (Nov. 2007), this Credit Suisse report reasserts the likelihood for agricultural prices to rise rather than fall. Anticipating a cyclical downturn in the global demand for agricultural produce in 2009 as both food and biofuel demand falls, Credit Suisse believes the degree of the likely supply-side contraction will outstrip the demand contraction, based on the calculation that falling planted acreage, lower fertiliser application and adverse weather conditions may drive a 3-4% fall in crop production by mid-2010. Looking at investment opportunities, Credit Suisse looks at 20 stocks within their global coverage that should ultimately benefit from this ongoing theme.