Global cereal trade seen down in 2022/23; world wheat production forecast to decline in 2023 – FAO

The United Nations Food and Agriculture Organization (FAO) has revised its forecast for the global production of cereals, including wheat, rice, and coarse grains, for the year 2022. The wheat production forecast has been increased to over 800 million tonnes, a new record high, largely due to revisions in official data from Kazakhstan and India. The rice production forecast has also been raised slightly to 516.7 million tonnes. However, the coarse grains production forecast has been lowered, despite revisions in India and other countries, due to decreased feed use of maize and sorghum. The FAO also forecasts a slight decrease in the global utilization of coarse grains. The forecast for world cereal stocks by the end of 2023 is 855 million tonnes, which is slightly below the opening levels. The trade in cereals, including wheat, rice, and coarse grains, is expected to be higher than last month's forecast but lower than the record level of 2021/22. The production outlook for 2023 crops in various countries is also discussed in the article, covering Europe, Russia, Ukraine, the UK, the USA, India, Pakistan, and several Middle Eastern and North African countries. The article also discusses the impact of weather conditions and natural disasters on crop production in Argentina, Brazil, South Africa, and other southern hemisphere countries.