In the 2023–2024 season, the volume of grain supply in the world remains at a sufficient level
Maize (Corn)
United States
Algeria
Published Mar 14, 2024
Tridge summary
The Food and Agriculture Organization (FAO) has revised its global cereal production forecast for 2023 to 2,840 million tonnes, a 1.1% increase from the previous year, due to a significant rise in global corn production. The global rice production for the 2023-2024 season could reach 526.2 million tons, a 0.4% increase from the previous season. The world grain consumption for the 2023–2024 season is expected to be 2,823 million tons, 1.1% higher than the previous season. The global cereal stocks by the end of 2024 are projected to be 896.9 million tonnes, a 2.8% increase from the start of the season. The global grain trade for the 2023-24 season is estimated at 483 million tons, 3.1 million tons higher than the previous forecast. The global coarse grain trade is projected to increase by 6.4 million tons (1.3 percent) above the level for the 2022-2023 season, driven by growth in global trade, improved export forecasts by Ukraine, and rising demand from China.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
In the 2023–2024 season, global grain supply volumes remain at a sufficient level; Early wheat production forecasts for 2024 are favorable New FAO forecast for global cereal production in 2023 revised up slightly to 2,840 million tonnes, up 1.1 percent (30.4 million tonnes) than a year earlier. This increase is primarily due to a significant increase in the forecast for global corn production (by 5.3 percent) due to Brazil, China (mainland) and the United States of America, which more than compensates for the expected decrease in global wheat production (by 2.3 percent). For rice, FAO has updated its production data for the 2022-23 and 2023-24 seasons in India from the February forecast, taking into account official data indicating a significant expansion in planted area for the summer crop. These adjustments offset slight declines in output in other countries, notably Colombia and Myanmar. As a result of these changes, it is expected that global rice production in the 2023-2024 ...
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