New
Transform your trade strategies with Market Brief, Tridge’s AI-powered market insights.

Global wheat production in 2021 to hit a record 780 million tonnes: FAO forecast

Published Mar 9, 2021

Tridge summary

The United Nations' Food and Agriculture Organization (FAO) forecasts a new record in global wheat production in 2021, expected to increase by 1.9% to 780 million tonnes, due to higher production in the European Union and other countries. However, despite potential weather challenges in Russia, the overall world cereal production is also expected to rise. In contrast, global food commodity prices have been on a consistent upward trend for the ninth month in a row, with significant increases seen in sugar and vegetable oils. The FAO Food Price Index in February was 2.4% higher than the previous month and 26.5% higher year-on-year, highlighting the ongoing challenges of global food price stability.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Global wheat production in 2021 is likely to increase and hit a new record of 780 million tonnes, according to FAO’s preliminary forecast, as expectations of a rebound in production in the European Union more than offset weather-impacted production prospects for output in the Russian Federation. Maize production in South Africa is expected to reach near-record levels in 2021, while outputs in South America are forecast at well above-average levels. The crop is yet to be planted in countries north of the equator. The world cereal production is also expected to rise by 1.9 per cent, lifted by higher-than-expected outturns reported for maize in West Africa, for rice in India, and wheat harvests in the European Union, Kazakhstan and the Russian Federation. Global food commodity prices rose for the ninth consecutive month in February, with quotations for sugar and vegetable oils increasing the most, the Food and Agriculture Organization of the United Nations (FAO) reported. The FAO ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.