Recession in sight, how is the condition of the world's food?

Published 2022년 7월 13일

Tridge summary

The United States Department of Agriculture (USDA) has reported a decrease in the global supply of wheat, corn, and rice for the 2022/2023 season, attributed to drought and conflict. The decline in production is expected to increase the risk of a global food crisis. Despite lower production, global trade of these crops is projected to increase, with notable changes in export and import patterns. The USDA also forecasts variations in the production of oilseeds, with a decrease in global production due to lower production of soybean, rapeseed, cottonseed, and peanuts, but an increase in sunflower seeds production. The end-of-year inventories for these agricultural commodities are predicted to be low, indicating a tight market for the coming months.

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

Original content

Jakarta, CNBC Indonesia - Food security has become a major issue in the world lately. Production was disrupted due to drought coupled with the conflict between Russia and Ukraine, exacerbated by protectionism by food producing countries. As a result, the supply of food ingredients in the world is decreasing. This increases the risk of a worldwide food crisis or famine. The United States Department of Agriculture (USDA) recently issued a report on estimates of the world's agricultural supply. Here's a summary: Wheat Global wheat supply in 2022/2023 is expected to fall by 1.1 million tonnes to 1,051.7 million tonnes. Production in the European Union (EU), Ukraine and Argentina was revised lower. The EU production forecast is lowered by 2 million tonnes to 134.1 million tonnes, as continued dry weather lowers yield prospects especially in Spain, Italy and Germany. Ukrainian production was reduced by 2 million tonnes to 19.5 million tonnes due to a reduction in harvested area. The ...

Source: Cnbcindonesia