International Grains Council slightly revises upwards its forecast for global cereal consumption in 2024/25

In its October report, the International Grains Council (IGC) maintains its forecast for world cereal production for the current campaign at 2,315 million tonnes, a record volume and 0.4% more than in the previous campaign. However, it has revised upwards by 3 million tonnes the consumption forecast, which will also reach a historic level of 2,328 million tonnes. This volume would represent an increase of 0.5% compared to the estimated demand for the 2023/24 campaign and is due to the expected increase in human consumption (+0.8%; 773 million tonnes) and industrial uses (+1.2%; 388 million), since the demand for animal feed will remain stable at 1,046 million tonnes. Since consumption will exceed production in the current campaign, it will close with a shorter final ...