Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   
 


Home > News > News

Global cereal production forecast to match past record - FAO

09.09.2023 18:36 "Agro Perspectiva" (Kyiv) Forecasts that world cereal production in 2023 will increase by 0.9 percent from the previous year to reach 2 815 million tonnes, on par with the record output realized in 2021.

FAO released a new Cereal Supply and Demand Brief.

While global wheat production is set to decline by 2.6 percent from 2022, coarse grains total output is forecast to rise by 2.7 percent, with maize production seen reaching a new record of 1 215 million tonnes, buoyed by strong yields in Brazil and Ukraine.

Despite a slight downward revision since July, world rice output in 2023/24 is still seen recovering by 1.1 percent from the previous season.

World cereal utilization in the season ahead is forecast at 2 807 million tonnes, 0.8 percent above the 2022/23 level.

Global cereal production forecast to match past record

Forecasts that world cereal production in 2023 will increase by 0.9 percent from the previous year to reach 2 815 million tonnes, on par with the record output realized in 2021.

FAO released a new Cereal Supply and Demand Brief.

While global wheat production is set to decline by 2.6 percent from 2022, coarse grains total output is forecast to rise by 2.7 percent, with maize production seen reaching a new record of 1 215 million tonnes, buoyed by strong yields in Brazil and Ukraine.

Despite a slight downward revision since July, world rice output in 2023/24 is still seen recovering by 1.1 percent from the previous season.

World cereal utilization in the season ahead is forecast at 2 807 million tonnes, 0.8 percent above the 2022/23 level.

World cereal stocks at the close of 2023/24 marketing seasons are predicted to stand at 878 million tonnes, a 2.2-percent annual increase, pointing to a world stocks-to-use ratio for cereals of 30.5 percent, which FAO deems an «overall comfortable global supply level from a historical perspective.»

World rice stocks are forecast to reach an all-time high of 198.1 million tonnes, driven up by India which together with China are estimated to hold nearly three quarters of this volume, like in previous seasons. Aggregate rice reserves held by the rest of countries are seen ending the year with a second successive contraction to a four-year low pegged at of 51.4 million tonnes.

FAO lowered its forecast for world trade in cereals in 2023/24 to 466 million tonnes, a 1.7 percent drop from the previous marketing season. Traded volumes of wheat and maize are all predicted to decline, due to a mix of reasons, including falling exports by Ukraine due to trade disruptions associated with the ongoing war. FAO has also lowered its forecast for world trade in rice from the July figure considering the stepped-up export restrictions by India. Although the duration of these restrictions and their extent of application are uncertain, if protracted and if El Niño induces production constraints in other Asian exporters, they could keep the predicted recovery in 2024 trade in rice modest, FAO said.

World cereal stocks at the close of 2023/24 marketing seasons are predicted to stand at 878 million tonnes, a 2.2-percent annual increase, pointing to a world stocks-to-use ratio for cereals of 30.5 percent, which FAO deems an «overall comfortable global supply level from a historical perspective.»

World rice stocks are forecast to reach an all-time high of 198.1 million tonnes, driven up by India which together with China are estimated to hold nearly three quarters of this volume, like in previous seasons. Aggregate rice reserves held by the rest of countries are seen ending the year with a second successive contraction to a four-year low pegged at of 51.4 million tonnes.

FAO lowered its forecast for world trade in cereals in 2023/24 to 466 million tonnes, a 1.7 percent drop from the previous marketing season. Traded volumes of wheat and maize are all predicted to decline, due to a mix of reasons, including falling exports by Ukraine due to trade disruptions associated with the ongoing war. FAO has also lowered its forecast for world trade in rice from the July figure considering the stepped-up export restrictions by India. Although the duration of these restrictions and their extent of application are uncertain, if protracted and if El Niño induces production constraints in other Asian exporters, they could keep the predicted recovery in 2024 trade in rice modest, FAO said.

Agro Perspectiva

< EBRD provides EUR60 million guarantee to support lending by Ukraines PrivatBank All news for
09.09.2023
Export Bans, Black Sea Tensions, Affecting Food Markets - WTO Agriculture and Commodities Division >

20.02.2024  
20:27 South Asia is anticipated to import nearly 14 million tons wheat in 2023/24
19.02.2024  
13:00 Cargill and ENOUGH expand partnership to provide consumers with innovative, sustainable protein options
17.02.2024  
17:47 Global Environment Facility approves new FAO-led projects and programs benefiting 46 countries
16.02.2024  
09:10 The EU is at a crossroads with the Ukrainian agricultural issue - COPA-COGECA, AVES, CEFS, CEPM, CIBE, EUWEP
13.02.2024  
17:31 European farmers exempted from rules on land lying fallow
12.02.2024  
16:45 India Wheat Stocks Plummet to Lowest in 15 Years
03.02.2024  
17:35 Mandarins. Global production for 2023/24 is forecast to rise to 38.0 million tons
09:59 Record cereal output in 2023
07:15 FAO Food Price Index down again in January led by lower wheat and maize prices
29.01.2024  
10:32 President von der Leyen launches Strategic Dialogue on the Future of EU Agriculture
26.01.2024  
11:31 Record Exports Forecast for Egypt Oranges
23.01.2024  
17:55 With the Federal Chancellor in the show bakery
19.01.2024  
11:45 Organic production in Ukraine
16.01.2024  
23:25 Domestic consumption of dairy products may double in 2024 analysts
12.01.2024  
23:53 Competition Tightens for Leading Pork Exporter
22:55 Peru Fish Meal Exports at Lowest Level Since 2015/16 El Niño
22:43 Grains Trade Disrupted by Challenges in Key Shipping Routes
10.01.2024  
15:38 In China, the largest import market for dairy products, surplus raw milk production led to government subsidies to stabilize the domestic processing sector
09.01.2024  
11:55 The FAO Sugar Price Index averaged 134.6 points in December, down 26.8 points from November
06.01.2024  
12:43 Polish fish and seafood imports continued to grow in 2022 and reached over $3 billion, with a $129 million (4 percent market share) originating from the USA
05.01.2024  
17:21 EU imports are dominated by unroasted green coffee beans, which accounts for about 90 percent of trade
17:00 FAO Food Price Index declines in December. Benchmark measure of world food commodity prices ends 2023 about 10 percent below its year-earlier level
29.12.2023  
09:53 Global and Bank of Georgia sign EUR50 million loan agreement to support small businesses
28.12.2023  
16:47 EIB delivers EUR3 million for energy-efficient upgrades in three Ukrainian cities
27.12.2023  
23:11 EU agri-food trade surplus increases in September 2023
26.12.2023  
15:05 FAO and EU launch a second grant call to bolster the recovery of Ukrainian farmers
18.12.2023  
09:00 EIB Global offers support to Ukraine, Moldova and Georgia on the next step of their EU accession paths
11.12.2023  
13:21 FAO Food Price Index holds steady in November
09.12.2023  
22:15 Donau Soja: Republic of Moldova increases soya harvest in 2023 and boosts market opportunities in the EU
24.11.2023  
12:25 SUGAR MARKET BY SESVANDERHAVE
09:32 BASF signs CNY 40 billion syndicated bank term loan facility with maturity of 15 years for its Verbund site in Zhanjiang, China
21.11.2023  
23:35 2023/24 European Union sugar production estimated up despite lower area in France
13:07 Inflation forecast to drop further and EU economy to show modest upturn
20.11.2023  
14:10 BASF, The Estée Lauder Companies, RSPO and Solidaridad support Enhanced Sustainable Palm Oil Production in Lampung, Indonesia
11:27 Preserving antimicrobials for the well-being of humans, animals, plants and ecosystems
11:18 Dobrodiya Foods started the production of glute-free oat flakes under the WOWOATS brand
09.11.2023  
20:43 Ukraine Grain Exports to Slide in 2023/24 Despite Recent Improvements
07.11.2023  
18:55 Hidden costs of global agrifood systems worth at least $10 trillion
03.11.2023  
20:13 As winter weather closes in on the Northern Hemisphere, the demand for limes changes accordingly
02.11.2023  
11:21 Wärtsilä supports Denmarks green energy future with opening of new biogas liquefaction plant
13.10.2023  
21:35 Shmyhal speaks about progress in issue of confiscation of Russian assets abroad
21:27 Immediate action is needed to get Africa on track with global goals
06.10.2023  
12:55 Global cereal production set to reach a record high in 2023, while trade could contract in 2023/24
18.09.2023  
13:55 Ukraine will sue Poland, Hungary and Slovakia over agricultural bans
15.09.2023  
21:02 Following the expiry of the restrictive measures on Ukrainian exports of grain and other foodstuff to the EU, Ukraine agrees to introduce measures to avoid a renewed surge in EU imports
13.09.2023  
17:54 Biodel AG Secures Series A Investment from Pangaea Ventures to Advance Novel Regenerative Agriculture Technologies
07:25 Rice Export Prices Highest in 15 Years as India Restricts Trade
11.09.2023  
17:54 Export Bans, Black Sea Tensions, Affecting Food Markets - WTO Agriculture and Commodities Division
09.09.2023  
18:36 Global cereal production forecast to match past record - FAO
14.08.2023  
13:22 EBRD provides EUR60 million guarantee to support lending by Ukraines PrivatBank

Also available: 


NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2024 © Agrarika, ltd.
tel.: +380 67 4473802; +380 67 5964652
e-mail: client@agroperspectiva.com