FAO revises up global cereal production in 2024/25 on improved wheat and rice prospects

Published Oct 7, 2024

Tridge summary

The Food and Agriculture Organization of the United Nations (FAO) has revised its forecast for world cereal production in 2024/25, increasing it by 1.3 million tonnes to 2 852.7 million tonnes, despite a slight decrease in coarse grain production. This is due to higher rice and wheat production estimates, with wheat production expected to slightly increase from the previous year, driven by improved prospects in Australia. However, coarse grain production forecasts have been reduced, particularly in the European Union, due to unfavorable weather conditions. Rice production forecasts have also been revised downwards in several countries, including Myanmar, but these revisions are largely offset by more optimistic prospects in India.

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

Original content

The Food and Agriculture Organization of the United Nations (FAO) has slightly raised world cereal production in 2024/25 in October by 1.3 million tonnes from the September report to 2 852.7 million tonnes (including rice), due to an upward revision of rice and wheat outputs that offset the small reduction in world coarse grain production. Despite these latest revisions, world cereal production in 2024/25 is still projected to decline moderately below the 2023/24 level. According to FAO, world wheat production is set at 792.9 million tonnes in 2024/25, representing an increase of 0.2 percent from the previous month and a 0.5 percent year-on-year increase. The increase this month is mainly due, according to the organization, “to improved prospects for wheat in Australia, where favourable rainfall patterns in western areas following a dry start to the campaign have reinforced yield expectations.” This upward revision more than offsets the considerable cut in the forecast for wheat ...

Source: Agropopular