World cereal production in 2023/24 could increase to 2,813 million tons

Published 2023년 6월 5일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has forecasted a slight increase in the global production of cereals for the 2023/2024 season, with an estimated 1% rise to 2,813 million tons. This growth is primarily attributed to higher production of maize, rice, and sorghum, though wheat and barley crops are expected to see a decrease. The global utilization of cereals is also projected to grow slightly by 0.9% to 2,803 million tons, largely due to increased use of coarse grains. Meanwhile, the FAO anticipates that global cereal trade volumes will remain stable at around 471.6 million tons, similar to the previous season.

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

Original content

Initial prospects for world cereal production in 2023/2024 point to a probable increase of 1%, reaching 2,813 million tons (including rice in its milled rice equivalent), according to the latest information note from the FAO on the supply and demand of cereals, published on June 3. As for the main cereals, most of the increase is due to the expected increase in the production of maize, rice and sorghum. These increases will be partly offset by wheat and barley crops, which are forecast to fall below their 2022/23 levels. Furthermore, FAO's first forecast puts world cereal utilization in 2023/24 at around 2,803 million tonnes, i.e. an increase of 0.9% from the estimated level in 2022/23. This slight increase is almost entirely due to expected growth in the use of coarse grains. In addition. The organization forecasts that world cereal trade will remain at levels close to those registered in 2022/23, standing at 471.6 million tons FAO revises ...

Source: Agropopular