Global grain trade in 2018/19 to decline to 406 million tons

The first forecast of global grain trade in 2018/19 is pegged at 406 million tons, implying a mere 0.6 percent decline from the all-time high anticipated for the current season, FAO reports.

Total trade in coarse grains is projected to reach 185 million tons in 2018/19 (July/June), down 1.3 percent from 2017/18. Import reductions in China and the EU are envisaged to drive a 1.3 percent contraction in corn trade to 144 million tons, with barley trade flows also seen declining by 1.8 percent to just over 29 million tons.

Global wheat trade in 2018/19 (July/June) is projected to remain close to the 2017/18 level, sustained by strong import demand, especially in Asia.

Reference: early indications for the 2018 grain crops point to global output falling 41.2 million tons (1.6 percent) short of the near-record harvest of 2017, to 2 607 million tons.