Global: Grain trade forecast revised downwards on weaker demand

게시됨 2024년 12월 6일

Tridge 요약

The United Nations' Food and Agriculture Organization (FAO) has lowered its global cereal production forecast for 2024 by 0.6 percent to 2,841 million tonnes, largely due to decreased predictions for maize and wheat production. The decrease in maize is attributed to smaller harvests in the European Union and the United States, while wheat production is expected to decline, particularly in the European Union, due to excess rainfall. However, rice production is expected to slightly increase, reaching a record 538.8 million tonnes. Despite the forecasted decline in cereal production, global utilization is projected to rise slightly, with wheat utilization remaining steady, and rice utilization seeing a slight increase. The report also highlights planting developments in various regions, including the Northern Hemisphere, South America, and South Africa, and notes changes in coarse cereal utilization.

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원본 콘텐츠

FAO’s current forecast for world cereal production in 2024 has been revised down from the previous month, to now stand at 2 841 million tonnes. Global cereal output is therefore expected to decline by 0.6 percent from last year’s level, which would nevertheless remain the second-highest output on record. This month’s revision mainly reflects lower production forecasts for maize and wheat. World gross maize production, which accounts for about 80 percent of total coarse cereal production, is forecast at 1 217 million tonnes, down slightly from last month’s forecast and 1.9 percent below the 2023 level. The revision reflects smaller-than-expected harvests in the European Union and the United States of America. World wheat production in 2024 is also forecast slightly lower, at 789 million tonnes, in line with 2023 production. The bulk of the decline from last month was due to a downgrade in the European Union wheat outlook, where excess rainfall in some areas reduced the yield. The ...

출처: Oilworld