Brazil's Agriculture Minister Marcos Montes said on Wednesday that the world is set to face a food crisis and the country will be increasingly responsible for supplying both domestic and foreign markets with food.

The South American agriculture powerhouse is one of the world's largest producers and exporters of products such as soybean, corn, sugar, coffee and meat.

"Unfortunately, I have no doubt that we will face a global food crisis. And Brazil will have the responsibility of feeding both its people and the world," Montes said during an event.