World cereal exports in the 2022/23 crop year are forecast to decrease by 2.2%

Rice

Bangladesh

Egypt

Published May 9, 2023

Tridge summary

According to the FAO's latest forecast dated 5/5/2023, world cereal production in the 2022/23 crop year increased by 7.7 million tons compared to the forecast in April 2023 and reached 2,785 million tons, but still low. 1% more than the previous year. The upward adjustment of wheat production in Kazakhstan, pushed global wheat production above 800 million tons for the first time. World coarse grain production was also raised, as the expected harvest in India increased due to increased yield and planted area, but still down 2.8% from the previous season.

Original content

FAO's forecast for world rice production in 2022/23 is also slightly up to 516.7 million tonnes, but still down 1.8 percent from the 2021/22 record of 526 million tonnes, mainly due to Myanmar's production increased. However, at the end of the 2022/23 crop year, Myanmar's rice output dropped sharply due to high input costs. Rice production in Colombia, Ghana and Peru increased, which far outweighed the slight downward revision in production by the Philippines. World cereal consumption in the 2022/23 crop year is forecast at 2,780 million tons, up 1.2 million tons from the forecast in April 2023, but still down 0.7% compared to the 2021/22 crop year. This month's upward revision was mainly driven by a 1.4 million metric tons increase in the global wheat consumption forecast, currently pegged at 782 million metric tons, up 1% from MY 2021/22. The increase in wheat consumption in India, following the release of stockpiles by the government and a sharp increase in the use of wheat for ...

Source: Vinanet