World grain production forecast in 2017/18 MY increased by 11 million tons

World grain production in 2017/18 MY will amount to 2,049 billion tons, which is 11 million tons more than the July forecast.

This is reported by the International Grains Council (IGC).

It is noted that the world grain production in 2017/18 MY will decrease by 79 million tons compared to 2016/17 MY.

At the same time, the world grain trade in 2017/18 MY will amount to 354 million tons, which is 5 million tons more than the July forecast and 2 million tons more than in 2016/17 MY.

At the same time, the forecast for grain consumption in 2017/18 MY is increased by 6 million tons (up to 2.089 billion tons) as compared to the July forecast.

Let us remind that the production of wheat in Ukraine in 2017/18 MY will decrease by 0.5 million tons and amount to 24.4 million tons.