tions. In the 2012 survey, that number dropped to 28. 2
percent. This year, only 25. 4 percent expect deteriorating pro;ts over the next 12 months.
This year 43 percent of respondents said they expect increased pro;tability, compared with 47 percent
in 2012 survey and 38 percent in the 2011 survey.
Optimism varies with the geography. While
Europe stayed gloomy, going from a 42 percent
negative outlook last year to a 40 percent negative in
this year’s survey, Latin America showed the most
increase in optimism, going from 22 percent in 2012
to 47 percent this year. Asian respondents also were
optimistic, with 47 percent anticipating improved
pro;tability.
Challenges
When asked about the importance of various
challenges facing their business, 83 percent of
respondents cited the cost of grains/volatility in
grain prices as very important.
Of particular note were the challenges cited
second, third and fourth, as they all tied back to
Profitability outlook
50
45
40
35
30
25
20
15
10
5
0
Negative or
deteriorating
No change
Improving
2011
2012
2013
The number of respondents predicting deteriorating profitability has dropped over the
last three years. Those predicting increased profitability dropped slightly this year.
issues related to grain cost: quality of grains, including mycotoxins; energy costs, including for
transportation and milling; and food/feed safety
and/or supply chain risk.
What is the importance of the following challenges to your business ( 1 = very important; 5 = not important)
450
400
350
300
250
200
150
100
50
0
Grain prices/volatility
5 Not important 4 3 2 1 Very important
Re g ulation /legislatio n
Accessto world markets
Enviro n m ent/sustaina bility
A ntibiotic a ccess/ a v aila bility
C a pital a v aila bility
O th er
Energy costs
Food/feed safety
In gre die nt/ a d ditive co st
G rain q u ality / m yc oto xins
