Source: APKinform (Ukraine)
The Food and Agriculture Organization of the United Nations’ July forecast for global cereal production in 2024 has been raised by 7.9 million tonnes (0.3%) to a record 2.854 billion tonnes, according to the FAO Press Service.
“This increase from the June forecast is due to the improved outlook for the coarse cereals crop (the forecast for world production was raised by 0.4% to 1.53 billion tons) and for wheat (production is expected to increase by 0.3% to 789 million tons),” the report said.
The forecast for global grain consumption in the 2024/25 marketing year is 2.856 billion tons, slightly higher (by 5.4 million tons) than the June estimate and 13.6 million tons higher than the previous season. The estimate for global consumption of coarse grains in the current financial year has been raised by 3.7 million tons, as higher consumption of corn and barley for feed and other uses and higher consumption of sorghum for food are expected. As a result of this upward revision, the forecast for global feed grain consumption now stands at 1.529 million tons, an increase of 0.8% compared to the 2023/24 season.
“The FAO forecast for world trade in all grains in the 2024/25 marketing year remains unchanged from June at 481 million tons,” the analysts added.
