Types of harvest and food situation in the world, preliminary forecasts from FAO

Published 2023년 3월 3일

Tridge summary

Preliminary forecasts for the 2022-23 season suggest a slight decline in global cereal stocks, despite an increase in production of corn and rice. Wheat production is expected to remain steady at 775.4 million tonnes. The global cereal consumption forecast for 2021-2022 has been revised downwards due to lower than expected wheat consumption in India. The FAO forecasts a 0.5% increase in world cereal stocks by the end of 2022, primarily due to an increase in EU wheat stocks and maize stocks in India and the EU. The global cereal trade forecast for 2021-2022 has been revised upwards to 484 million tons, but the potential impact of the conflict in Ukraine on trade flows has not yet been taken into account.

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

Original content

Global cereal stocks decline in 2022-23 season: preliminary forecasts point to decline in wheat production - FAO 796 million tons, which is 0.7 percent higher than last year. This upward revision is driven by higher forecasts for world production of corn and rice; at the same time, global sorghum production estimates are downgraded, slightly lowering the overall growth forecast for this month. With these changes, world production of coarse grains is expected to reach 1,501 million tons, up 1.2 percent from last year. Most of this increase is driven by increased maize production in the European Union (EU) and India, which more than offsets low feed grain production forecasts in Sudan. Global wheat production is forecast unchanged for the current month at 775.4 million tonnes, reflecting an increase in Australian gross production, maintaining record levels of production despite slight downward revisions to forecasts for the EU, Iraq and Paraguay. After an upward revision of 2.2 ...

Source: Oilworld