"The Outlook makes abundantly clear that trade is critical for global food security," said Organisation for Economic Co-operation and Development's Director for Trade and Agriculture Ken Ash.
"Regions that are experiencing rapid population growth are not necessarily those where food production can be increased sustainably, so it is essential that all governments support open, transparent and predictable agro-food markets."
Slowing global import demand will mean agricultural and fisheries commodities trade will expand more slowly over the next 10 years than it did over the past decade, when it averaged a 3.3 per cent rise, according to the OECD-United Nations Food and Agriculture Organisation's Agriculture Outlook.
On the export side, both Latin America and Europe are projected to increase their sales to foreign markets, the report said.
Consumption of sugar and vegetable oil are projected to rise as part of an ongoing trend towards prepared and more processed foods, notably in many rapidly-urbanizing low and middle-income countries.
Concerns about health and well-being are likely to nudge numerous higher-income countries towards lower consumption of red meat and a shift from vegetable oils to butter, according to the report.
And the demand for feed crops is projected to outpace animal production growth in countries where the livestock sector is evolving from traditional to commercialised production systems. Meanwhile, the use of agricultural commodities as feedstock to produce biofuels is expected to grow primarily in the developing countries, said the report.
This year's Outlook features a special chapter on Latin American and the Caribbean, a region that makes up 14 per cent of global production and 23 per cent of the world's exports of agricultural and fisheries products - a share expected to rise to 25 per cent by 2028.
Despite "impressive" growth, the region faces persistent food scarcity as many households are unable to afford the food they need. Advances in nutrition, social and environmental protection and support for livelihoods are needed to redress this situation, the report warned.
The region also faces growing natural resource challenges but offers "strong growth opportunities" to produce high-value fruits and vegetables which are more profitable for small-holders and are healthier for the population, the report
Targeted policies could help farmers and consumers reap these opportunities, while protecting the region's natural resources, the report notes.
( With inputs from IANS )