FAO predicts a reduction in world trade in wheat and corn

Published 2024년 12월 7일

Tridge summary

The Food and Agriculture Organization of the United Nations (FAO) forecasts that global wheat production in 2024 will remain steady at 789 million tons, while corn production is expected to decrease by 1.9% to 1,271 million tonnes due to lower yields in the European Union and the United States. Rice production is predicted to reach a record 538.8 million tons, a 0.8% increase from the previous year. Factors such as below-normal rainfall and drought conditions in key wheat-growing regions could impact planting operations, while favorable conditions in China and India could stimulate crop expansion. Global consumption of cereals is projected to rise slightly, and while grain stocks are expected to decline slightly from the initial estimate, the FAO still expects a "comfortable level of supply" globally. International grain trade in 2024/25 is forecast to decrease by 4.6%, with a expected decrease in wheat and corn trade, but an increase in rice trade.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This is stated in the message of the Food and Agriculture Organization of the United Nations (FAO). It is expected that world wheat production in 2024 will be the same as last year, at the level of 789 million tons. Meanwhile, corn production is forecast to decline by 1.9% year-on-year to 1,271 million tonnes due to lower-than-expected yields in the European Union and the United States. World rice production in 2024/25 MR is forecast at a record level of 538.8 million tons, which is 0.8% more than last year. Experts believe that in 2025, lower wheat prices may prevent the expansion of winter wheat acreage underway in the Northern Hemisphere. Below-normal rainfall in key wheat-growing regions affected planting operations. In contrast, favorable soil moisture and government support policies, together with profitable prices, should stimulate crop expansion in China and India. Cereal crops are being planted in the Southern Hemisphere. Early indications are that maize crops in ...

Source: AgroPortal.ua