European Union's cereal production will grow by 3% in 2024/25

Published 2024년 5월 14일

Tridge summary

The European Commission has forecasted a 3% increase in community cereal production for the 2024/25 campaign, totaling 278.4 million tons, largely due to higher corn production and improved barley and durum wheat yields. However, the area for common wheat is expected to decrease due to adverse weather conditions during planting season. Despite a slight growth in demand, consumption is projected to remain stable. Improved production and high opening stocks are anticipated to lead to increased exports in the 2024/25 campaign, despite a decline in cereal prices which are currently below the average of the last five years, alongside high input prices, putting pressure on producers' margins.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Commission's projections for the 2024/25 cereal campaign point to an increase in community production of 3% compared to the current campaign, which would reach 278.4 million tons. The increase would be mainly due to the increase in corn production, derived from a larger area, and the improvement in yields expected in the case of barley and durum wheat. For common wheat, a decrease in the area is estimated due to the difficult weather conditions during the planting season in different producing areas of the EU. Regarding consumption, the Commission estimates that it will remain quite stable compared to the current 2023/24 campaign. In its latest report on short-term market prospects, it refers to the demand for the current campaign, which will grow slightly compared to the previous one (255,062 million tons) despite the fact that the volume destined for animal feed will grow by just 0. ,3%; This evolution reflects, according to Brussels, the stagnation of EU animal ...

Source: Agropopular