Global grain harvest to hit new records this year with trade in turmoil

Published 2024년 8월 3일

Tridge summary

The international grain market is expected to reach a historic high in cereal production, with an estimated 2,321 million tons in the 2024-2025 campaign, according to the International Grains Council (IGC). This growth, although substantial, is amidst challenges such as climate instability, increased consumption, and geopolitical tensions impacting the distribution and trade of grains. Despite the record production, stored grains are expected to decrease due to high consumption, leading to a potential record low by the end of the campaign. The global grain trade, however, is projected to see a decline of 6.7% from the previous campaign, with Spain facing potential price fluctuations as a grain-deficient nation. The market is currently experiencing a downturn in prices for cereals and oilseeds, although this trend may vary by region.

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

Original content

Mercedes Salas (EFEAGRO). World cereal production will reach a historic maximum in the 2024-2025 campaign, up to 2,321 million tons, according to the intergovernmental organization IGC, but its distribution and trade will be very turbulent due to the rise in consumption, climate instability and the geopolitical panorama. The main cereal-producing countries on the planet have raised their harvest projections, which will globally grow by 1% annually, according to the latest forecasts from the International Grains Council (IGC). With these capacities, production "concatenates" several record campaigns, Efeagro assures from the commercial sector, but "the question is how it will be distributed", along with unknowns such as the effect of political instability on oil and freight rates. transport; At the moment the price trend is bearish. Spain, specifically, is a grain-deficient nation and its prices are set by international markets, although the production of this campaign is more ...

Source: Agroclm