News

Global cereal production and demand predicted to recover in 2023/24

Ukraine
Published Jun 3, 2023

Tridge summary

As the 2022/23 season is coming to an end, FAO estimates for global cereal production in 2022 indicate a year-on-year decline of 1.0 percent, mostly stemming from a fall in maize production, followed by smaller declines in rice and sorghum outputs. Primarily driven by the tighter availability and higher prices, cereal utilization is also estimated […]

Original content

As the 2022/23 season is coming to an end, FAO estimates for global cereal production in 2022 indicate a year-on-year decline of 1.0 percent, mostly stemming from a fall in maize production, followed by smaller declines in rice and sorghum outputs. Primarily driven by the tighter availability and higher prices, cereal utilization is also estimated to decrease in 2022/23, by 0.9 percent, largely on account of lower feed use of coarse grains and rice as well as a fall in the other uses of all major cereals, while food consumption has continued to grow. With estimated world cereal production exceeding utilization, cereal stocks at the end of seasons in 2023 are estimated to rise marginally (0.2 percent) above their opening levels, with increases in wheat and barley inventories outweighing drawdowns in maize, rice and sorghum stocks. Global trade in cereals in 2022/23 is estimated to contract by 2.3 percent from the 2021/22 level, with estimated falls in trade volumes for all major ...
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