Global grain production forecast for MY 2017/18 increased by 6 million tons

The forecast for global grain production in MY 2017/18 increased by 6 million tons to 2.075 billion tons (September forecast — 2.069 billion tons).

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

Compared to MY 2016/17, world grain production will decrease by 58 million tons.

At the same time, the world grain trade in MY 2017/18 will amount to 359 million tons, which is 1 million tons more than the previous forecast, and by 7 million tons exceeds MY 2016/17.

The forecast for grain consumption in MY 2017/18 is increased by 8 million tons (up to 2.104 billion tons).

It was reported earlier, that in MY 2017/18 Ukraine has surplus balances of all major agricultural crops.