The forecast for world grain production in 2017/18 MY increased by 20 million tons

World production of grains in 2017/18 MY will amount to 2,069 billion tons, which is 20 million tons more than the forecast in August.

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

It is noted that the world cereal production in 2017/18 MY will decrease by 64 million tons compared to 2016/17 MY.

At the same time, the world grain trade in 2017/18 MY will make up 358 million tons, which is 4 million tons more than the previous forecast and 6 million tons more than in 2016/17 MY.

At the same time, the forecast of grain consumption in 2017/18 MY is increased by 7 million tons (up to 2.096 billion tons).

Note: in 2017/18 MY, Ukraine has surplus balances for all major agricultural crops.