Despite improved wheat and rice crop prospects, global cereal production in 2024 will be slightly below 2023 levels

게시됨 2024년 10월 9일

Tridge 요약

The United Nations' Food and Agriculture Organization (FAO) has updated its forecast for 2024 world cereal production to 2,853 million tonnes, up slightly from the previous estimate, due to increased rice and wheat production. This slight increase in production is expected to offset a decline in global coarse grains production. The global wheat production forecast has been revised upwards due to improved prospects in Australia, despite a reduction in the EU. Rice production forecasts have been revised down in several countries, but an increased outlook for India offsets these revisions. The total wheat utilization is projected to decline, particularly in China and India. Overall, global cereal stocks for the 2025 season are expected to be around 10.5 million tonnes above the opening levels.

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원본 콘텐츠

This month, FAO slightly raised its latest forecast for world cereal production in 2024, now at 2 853 million tonnes. The revision reflects higher rice and wheat output, which outweighed a modest decline in global coarse grains production. Despite the latest changes, however, global cereal production in 2024 is still forecast to be slightly below its 2023 level. World wheat production in 2024 is forecast at 792.9 million tonnes, up 0.2 percent from the previous month and up 0.5 percent year-on-year. This month’s increase is mainly due to improved prospects for wheat production in Australia, where favourable rainfall in the country’s western regions after a dry start to the season has boosted yield expectations. The upward revision more than offsets a significant reduction in the wheat forecast in the European Union, where excessively wet weather is likely to reduce yields more than previously expected. The forecast for global coarse grains production in 2024 was revised down ...

출처: Oilworld