Global analysts predict a significant recovery in the global grain market. The reports of the world's leading agricultural agencies in December were surprisingly optimistic.
The forecasts for world foreign trade in grain have also been increased, and the volume of global grain stocks has been increased. Only this indicator decreased in comparison with the report of analysts for November, but still remained a record.
In 2019, cereal production in the world can reach a record level. This is the freshest balance of the global grain market, signed by the Food and Agriculture Organization of the United Nations (FAO).
Indeed, according to the expanded FAO data, in the 2010/2011 marketing year, the volume of grain production amounted to 2264.4 million tons. Since then, for 9 seasons, analysts have observed an increase in this indicator. In the current marketing year, the global cereal crop will reach a peak of 2,714 million tons, which is almost 20% more than nine years ago.
Mankind has been consuming crops for 100 thousand years.
In general, I must say that the new FAO assessments are literally saturated with optimism. The forecast for the production of fodder in the world has been increased (compared with last month).
Now it is 1.7% more than last season, and only 1 million tons below the record for the 2017-2018 marketing year. The forecast for wheat production has also been increased to 766.4 million tons (this is almost 5% more than last year's crop).
IGC also expects the global barley harvest to be a record this season.
On the whole, the overall picture of global grain production in the International Council is seen as follows. Increased wheat yields along with record barley yields offset the decline in maize. Therefore, world grain production shows a plus of 1% to the volume of the last season.
- Russia intends to create a “Grain OPEC” to defeat hunger in the world.
- In Transcarpathia, harvesting of early grains has begun.
- Chernigov agrarians sowed record areas with grain and leguminous crops.
- In the Rivne region recorded a historical record of grain crops.