Grain stocks around the world are increasing for the 2021-2022 season

Published 2022년 3월 5일

Tridge summary

The United Nations Food and Agriculture Organization (FAO) has raised its forecast for 2021 global cereal production by 2.2 million tons to 2,796 million tons, a 0.7 percent increase from the previous year, primarily due to higher predictions for corn and rice production. However, the global sorghum production estimate has been downgraded. The global wheat production forecast remains unchanged at 775.4 million tonnes. The global rice production forecast for 2021-2022 has also been revised upwards to 519.3 million tons, a new record, driven by more optimistic production expectations in India. The global cereal consumption forecast for 2021-2022 has been reduced to 2,802 million tons due to a decrease in global wheat consumption in India. The FAO's global cereal trade forecast has been increased to 484 million tonnes, up 2.7 million tonnes from last month.

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Original content

The current FAO forecast for 2021 global cereal production has been increased by 2.2 million tons, and now stands at 2,796 million tons, up 0.7 percent from last year. This upward revision is due to higher forecasts for world production of corn and rice; at the same time, global sorghum production estimates are downgraded, slightly lowering the overall growth forecast for this month. With these changes, world production of coarse grains is expected to reach 1,501 million tons, up 1.2 percent from last year. Most of this increase is due to increased maize production in the European Union (EU) and India, which more than offsets low feed grain production forecasts in Sudan. Global wheat production is forecast for the current month, unchanged at 775.4 million tonnes, reflecting an increase in Australian gross production, maintaining record production levels despite slight downward revisions in the EU, Iraq and Paraguay. After an upward revision of 2.2 million tons this month, it is ...

Source: Oilworld