Wells Fargo says that soon, China will kick off a boom in food commodity prices similar to the industrial commodity bull market it led in the 2000s.
boom, and that in the future, its demand for food could lead to a similar boom in other commodities.
To meet that surge in demand, he says, China will need to ramp up its already-huge imports of food. That could end a long stretch that's seen flat or declining food commodity prices and weak returns for related"Food commodities could very well lead the next commodity bull super-cycle," he wrote in a recent note to clients.
While China's economy has grown by an enormous amount in 25 years, LaForge says people in China still consume fewer calories than people in countries like the US and South Korea. He says that's likely to change.consumer spending in China Wells Fargo Investment Institute, Bloomberg, National Bureau of Statistics of China, Bureau of Economic Analysis
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