The International Grains Council targets a record global harvest in 2023-2024
Antigua and Barbuda
Published May 20, 2023
In its report for this month of May, the International Cereals Council (CIC) has revised its forecast for world cereal production upwards by 3 million tons for the next 2023/24 season, which stands at 2,294 million tons, a historic volume, slightly above the record reached in 2021/22. The increase is due to the expectation of a higher maize crop and despite the cut in forecasts for wheat and barley. For wheat, it expects a production of 783 million tons in the next season -compared to 803 million in the current season), while for corn it estimates a harvest of 1,217 million tons, which is 64 million tons more than in the previous season. the 2022-23 campaign. Less stock of cereals Although the production will be higher, the final stock of the campaign will be reduced with respect to the present campaign due to the fact that consumption forecasts have also been revised upwards, which would be above production. Compared to the current campaign, demand will grow, according to the ...