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Abstract
In the mid-2000’s, Goldman Sachs identified two groups of emerging economies known as the BRICs and the Next-11. Primarily selected on the basis of having large
populations, these countries were heralded as the growth centres of the future with the
potential to stimulate increased demand for a wide range of commodities, including
food. This study uses an import demand model to estimate how income influences per capita expenditure on agrifood imports in 63 countries. The findings suggest that
as groups the BRICs and N-11 do not di↵er from other low, middle, or high income
countries with respect to their import behaviour. However, disaggregation of the two
groups reveals significantly larger expenditure elasticities for China, India, South Korea and Vietnam. A forecasting exercise reveals the capacity of income and population growth in China, India, Indonesia, Russia, South Korea and Vietnam to substantially increase their expenditure on imported agrifood products.