FAO predicts a 1% increase in world wheat production

The Food and Agriculture Organization of the United Nations (FAO) predicts a 1% increase in global wheat production in 2024, not exceeding the record highs of 2022. The United States and Canada are expected to see higher yields with the US projected at 51.5 million tonnes and Canada at 33 million tonnes, despite reduced plantings. However, India's forecast is lowered due to adverse weather, while China and Pakistan are expected to increase production. The European Union might see a slight decrease in production due to heavy rains. Additionally, the 'Grain from Ukraine' initiative aims to enhance food security by providing grain to African and Asian countries, with plans to supply agricultural products to at least 5 million people by the end of spring 2023, involving up to 10 ships leaving Ukrainian ports monthly and allocating about $20 million for its implementation. Ukraine's export of over 5 million tons of agricultural products through the Black Sea in February marks a partial recovery to pre-war levels.