FAO: Global cereal inventories rise as trade volumes are expected to decline from record highs in the 2020/21 season

With almost all grain harvesting completed, FAO's forecast for 2021 global cereal production is unchanged this month at 2,799 million tonnes, up 0.8 percent from 2020. The volume of production of feed grains in the world in 2021 amounted to 1,502 million tons, which is 18.9 million tons higher than a year earlier; corn provided the bulk of the increase, more than offsetting a serious drop in world barley production. The volume of wheat production in the world is estimated at 777 million tons, which is almost the same as the 2020 harvest. In the case of rice, generally favorable weather conditions throughout the season have resulted in slightly higher yields; consequently, production forecasts for Bangladesh, the Philippines and Côte d'Ivoire were upgraded, while output for Mali was adjusted upwards on the back of official updates that the decline in rice acreage turned out to be less significant than previously reported. Based on this information, FAO raised its forecast for ...