Global 2022/23 wheat production lowered on smaller crops in India and the EU; rice output is seen as higher

Published 2022년 6월 12일

Tridge summary

The USDA's latest report reveals a decrease in the global wheat production due to smaller crops in India and the European Union, although Russia's production has increased. The global consumption forecast has also been reduced, along with ending stocks, primarily due to lower supplies in India. However, global rice production and consumption for 2022/23 are projected to rise, with improved yields in India and Peru. Global corn production for 2022/23 is forecast to increase, largely due to an increase in Ukraine, but global imports are expected to decrease, with a minor gain in the European Union.

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

Original content

Global wheat production is down this month primarily on smaller crops in India and the European Union, only partially offset by an increase for Russia, the U.S. Department of Agriculture said in its latest monthly report. It also lowered global consumption forecast and said ending stocks were also being revised down mostly on lower supplies in India. “Imports are nearly unchanged as higher imports for Iran and Pakistan are mostly offset by lower imports for Bangladesh and Sri Lanka. Exports are up for Russia, Argentina, and Uzbekistan, but mostly offset by reductions to India,” it said. The USDA said global production for 2021/22 is down slightly this month mostly on a smaller crop in Chile. Global consumption is fractionally lower as higher feed and residual use only partly offsets lower FSI consumption. “Ending stocks are revised lower mostly on reductions in Argentina, Morocco, and Egypt. Imports are revised lower with reduced demand from Morocco, Sri Lanka, and United Arab ...

Source: Indoasiancommodities