FAO estimates that the wheat harvest in 2021 may reach a new record exceeding 780 million tonnes, driven by the EU

Published 2021년 3월 4일

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) has revised upwards its forecast for the global production of cereals in 2020, including wheat, maize, and rice, by 17 million tonnes to a total of 2,761 million tonnes, marking a 1.9% increase from the previous year. This adjustment is attributed to improved production estimates in Australia, Russia, Kazakhstan, the European Union, India, and Iran. The FAO also anticipates a rise in the global utilization of cereals to a record 2,766 million tonnes, with increased consumption of rice and coarse grains, particularly in feed usage. However, the organization warns that global cereal stocks are expected to decrease by 0.9% from the opening levels, leading to a lower ratio of stocks-to-utilization and the smallest buffer since 2014. Despite the slight increase in world stocks of coarse grains, the significant drops in maize stocks in China and the United States indicate a overall decrease of 6.4% from the opening levels.

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Original content

FAO's latest forecast for world cereal production in 2020 has been increased by 17 million tonnes from the previous report in February, to 2,761 million tonnes, and now points to a year-on-year increase of 1.9 %. The adjustment is mainly due to an increase of 7.5 million tonnes in the estimate for world wheat production, based on recently published official data from Australia, the Russian Federation, Kazakhstan and the European Union (EU). The estimate of world coarse grains production has also increased, by 6.9 million tonnes, with most of the monthly increase concentrated in West Africa, where recent official data showed that maize production was higher than previously forecast, and in the EU, where the estimate of maize production in Romania was revised upwards due to an increase in yields. The estimate of world coarse grains production was further bolstered by an upward revision of world barley production as a result of improved yields in Australia and the Russian Federation. ...

Source: Castilla