FAO: Increased global coarse grain production boosts supply and trade forecasts

Published Feb 3, 2024

Tridge summary

The Food and Agriculture Organization (FAO) has increased its forecast for global cereal production in 2023 by 13.2 million tonnes, predicting a record 2,836 million tonnes. This is largely due to higher corn production in key countries and increased predictions for barley and wheat. Despite this, the global wheat production forecast remains 2.2% lower than 2022 levels. The global rice production forecast for the 2023-24 season is slightly down from December's prediction, but still 0.6% higher than the 2022-23 season.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

FAO's forecast for global cereal production in 2023 was revised upward this month by 13.2 million tonnes (0.5 percent) and is expected to reach a record 2,836 million tonnes. This figure is 1.2 percent (33.3 million tons) above the 2022 level. This forecast adjustment is primarily due to the fact that in a number of key producing countries, corn production exceeded forecast estimates, as well as an increase in forecasts for the volume of barley and wheat production in the world, although more moderate. With an upward adjustment of 12 million tonnes this month, global coarse grain production is expected to reach a record 1.523 million tonnes. The revision is primarily due to higher estimates for corn production in Canada, China (Mainland), the United States and Turkey; This is confirmed by new official data, according to which crop yields have increased in these countries, and the area under cultivation has also been expanded. The volume of barley production in the world was also ...
Source: Zol
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