The FAO predicts a reduction in world wheat production

Published 2024년 6월 11일

Tridge summary

The first forecast for the 2024/25 season by the Food and Agriculture Organization (FAO) predicts that global cereal production will slightly decrease from the record of 2023/24, totaling 2,846 million tons. This is despite an expected increase in production of barley, rice, and sorghum, which is offset by a predicted decline in corn and wheat production. Adverse weather conditions in the Black Sea region could further reduce wheat production, although this is not yet reflected in the forecast. Global cereal consumption is expected to rise by 0.5% to a record 2,851 million tonnes, with staple foods, particularly rice, driving this increase. However, the FAO also anticipates a 1.3% decrease in world grain trade to 481 million tons, largely due to a deteriorating outlook for corn trade, while international rice trade is expected to see rapid growth.

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

Original content

World cereal production will amount to 2,846 million tons, which is almost equal to the record production of 2023/24. This is stated in the first FAO forecast for the 2024/25 season (July/June). Global production of corn and wheat is projected to decline, while production of barley, rice, and sorghum is projected to increase. However, recent adverse weather conditions in the Black Sea region are likely to reduce global wheat production, which is not yet reflected in the forecast. Total world cereal consumption is expected to increase by 0.5 percent to a new record high of 2,851 million tonnes in 2024/25, driven by increased consumption of staple foods, especially rice. World grain stocks are likely to rise 1.5 percent above initial levels to a record 897 million tons. Stockpiles of corn, barley, sorghum and rice are expected to increase, while wheat stocks may decline. The global inventories-to-utilization ratio is likely to remain ...

Source: Agrotimes