Global grain trade in 2017/18 reaches the record level
The global trade in all grains in 2017/18 is forecast at 406.6 million tons, slightly up on the previous month’s figure and 0.2 percent (almost 0.9 million tons) higher than last year’s record level, reports FAO.
World trade in wheat in 2017/18 (July/June) is now forecast at 173.8 million tons, nearly at par with February’s projected volume as import demand is seen to remain steady in nearly all regions with the exception of South America, where total imports could decline slightly, mainly on reduced purchases by Brazil. On the export side, export supplies are expected to be more than adequate to meet global demand, with an upward adjustment to exports from the Russian Federation compensating downward revisions in several other leading exporters.
Global trade in coarse grains in 2017/18 (July/June) is currently forecast to reach a record level of 185.8 million tons, 2.6% (4.7 million tons) above the 2016/17 volume. Much of this expansion would be accounted for by higher world corn trade, which is seen reaching almost 145.5 million tons, largely underpinned by stronger import prospects for the EU, Turkey and several Asian countries.
Reference: global grain production in 2017/18 is forecast at almost 2.646 billion tons, which is 33 million tons more than previously expected.