News

World cereal production forecast raised, but stocks seen falling sharply and trade to exceed earlier predictions

World
Published Feb 5, 2021

Tridge summary

The UN food agency on Thursday raised its forecast for global cereal production in 2020 and said that early prospects for this year point to a modest increase in wheat production in the northern hemisphere and a decline in maize production in the southern hemisphere. The latest forecast for world cereal production in 2020 stands at nearly 2 744 million tonnes, up slightly (0.1 percent) from the previous report in December, it said.

Original content

Among the major cereals, the forecast for world wheat production has been revised upward by 4.8 million tonnes to an all-time high of 766.5 million tonnes. The increase since the previous report rests mostly on better-than-expected yields that boosted production to its second highest level on record in both Australia and Canada while wheat production in Iraq is also lifted to reflect latest official estimates. The forecast for world rice production in 2020 has also been raised, by 2.2 million tonnes, to 510.6 million tonnes, up 1.8 percent year-on-year and marking an all-time high. The revision mainly stems from better than previously anticipated 2020 yield out-turns in China (Mainland), the Philippines and Guinea, although upward, area-based, historical revisions were also introduced for the Democratic Republic of Congo and Venezuela (Bolivarian Republic of). By contrast, the forecast for world coarse grains production has been trimmed by nearly 5 million tonnes, reflecting ...
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