FAO predicts a 1% increase in world wheat production

Published 2024년 3월 25일

Tridge summary

The Food and Agriculture Organization of the United Nations (FAO) predicts a 1% increase in global wheat production in 2024, not exceeding the record highs of 2022. The United States and Canada are expected to see higher yields with the US projected at 51.5 million tonnes and Canada at 33 million tonnes, despite reduced plantings. However, India's forecast is lowered due to adverse weather, while China and Pakistan are expected to increase production. The European Union might see a slight decrease in production due to heavy rains. Additionally, the 'Grain from Ukraine' initiative aims to enhance food security by providing grain to African and Asian countries, with plans to supply agricultural products to at least 5 million people by the end of spring 2023, involving up to 10 ships leaving Ukrainian ports monthly and allocating about $20 million for its implementation. Ukraine's export of over 5 million tons of agricultural products through the Black Sea in February marks a partial recovery to pre-war levels.

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Original content

According to a report by the Food and Agriculture Organization of the United Nations (FAO), in 2024 world wheat production will increase by 1% compared to the previous year, but will be less than the record production achieved in 2022, reports World Grain. The FAO said that in the United States and Canada, the world's two biggest wheat producers, plantings were down, but expected yields were up due to improved weather conditions. FAO forecasts US wheat production in 2024 at 51.5 million tonnes, above the five-year average and last year. Meanwhile, Canada is forecast to harvest 33 million tonnes in 2024, despite a 2% decline in wheat plantings. India was expected to produce a near-record crop this year, but recent rains and hailstorms in key production areas ahead of harvest have lowered expectations for the country's wheat crop, despite an increase in plantings. China, where strong domestic demand and an increase in the minimum purchase price have supported the expansion of ...

Source: Landlord