Global trade in cereals in 2022/23 revised down further, forecast for 2023 world wheat production up marginally from last month
Australia
Canada
Published Apr 8, 2023
Tridge summary
FAO’s latest forecast for world cereal production in 2022 has been lifted marginally to 2 777 million tonnes, albeit remaining 1.2 percent lower year-on-year. The latest increase, with almost all of the 2022 crop harvested, reflects minor upward revisions to coarse grain estimates for production in Australia and Ukraine.
Original content
FAO’s latest forecast for world cereal production in 2022 has been lifted marginally to 2 777 million tonnes, albeit remaining 1.2 percent lower year-on-year. The latest increase, with almost all of the 2022 crop harvested, reflects minor upward revisions to coarse grain estimates for production in Australia and Ukraine. Global rice production figures have undergone a small (0.6 million tonne) downward revision since March, largely due to official lower estimates of the Indonesian harvest concluded last December. This reduction outweighed an upgrade to output prospects for Cambodia, reflecting a strong pace of plantings during the ongoing dry-season cycle. As a result, world rice production in 2022/23 is now pegged at 516.0 million tonnes (milled basis), down 1.6 percent from the 2021/22 record high, but still an above-average harvest. The forecast for world cereal utilization in 2022/23 stands at 2 779 million tonnes, down 1.0 million tonnes since the last report and still ...
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