For the 2022-2023 agricultural year, a decrease in the global production, consumption, stocks of grain, and the volume of trade in them is predicted
Published Oct 8, 2022
Tridge summary
This month, FAO lowered its forecast for global cereal production in 2022, which is now 5.9 million tons below the September forecast to 2,768 million tons, 1.7 percent below total 2021 production.
Original content
The decline in the overall outlook this month is driven primarily by an expected decline in global feed grain production as continued adverse weather conditions weigh on crop prospects in major producing countries. Global coarse grain production in 2022 is expected to be 1,468 million tons, 14.3 million tons below last month's forecast and 2.8 percent below last year's figure. This month's decline is mainly the result of deteriorating corn crop prospects in the United States of America, as corn yield forecasts are again lowered in a rain-scarce environment and some reduction in planted area is expected. Maize production forecasts in the European Union and the Republic of Moldova are also downgraded - albeit to a lesser extent - due to further deterioration in crop prospects due to drier-than-usual conditions in the current growing season. For Brazil, maize production forecasts were also slightly lowered based on recently released official data; however, the country's gross output ...
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