FAO: Global wheat harvest this year not bigger than last year

Published 2024년 12월 6일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has lowered its forecast for global wheat stocks due to wet weather conditions in Europe limiting sowing and grain filling, leading to lower production estimates. Despite similar consumption levels to the previous season, there has been a shift towards human consumption of wheat, which is expected to increase, while sales for animal feed have declined. This shift, alongside production issues, has resulted in the second consecutive year of depleting wheat stocks, as production has not kept up with consumption.

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

Original content

The downward adjustment means that wheat stocks are again decreasing. The FAO expects consumption to be comparable to last season. This means that consumption is greater than production for the second year in a row. As a result, stocks are being reduced. A lower estimate of production in the European Union is the basis for the negative adjustment. The wet weather conditions at the end of 2023 limited the sowing of winter wheat. Subsequently, it was often wet during the growing season. This slowed down grain filling. Although consumption appears to be the same as a year ...

Source: Nieuwe Oogst