FAO increased the global grain production forecast in 2018/19 by 10 mln tons

FAO‘s latest forecast for global grain production in 2018 is pegged at 2 601 million tons, up nearly 10 million tons from the previous month’s forecast, but still 57 million tons (2.1%) below the 2017 record level.

"The monthly change was primarily driven by upward revisions for wheat production in Canada and China more than compensating downward revisions in Australia and the EU," the message says.

World wheat production in 2018 is now forecast to approach 728 million tons, down 4.3% from 2017.

"For next year, the winter wheat crop is currently being planted in the Northern Hemisphere. Generally, remunerative prices are expected to stimulate an increase in plantings in the EU, the United States and India, while weather-related concerns could hamper sowings in parts of China and Pakistan," experts note.

World production of coarse grains is forecast at 1 360 million tons in 2018, down 2.2% from 2017, while up marginally from October, mostly on a higher outlook for maize as well as for barley, which, however, remains at a six-year low.

"For 2019, coarse grain crops are currently being planted in Southern Hemisphere countries. Early prospects indicate an expansion in maize plantings in South America, buoyed by robust export demand, and in South Africa, resting on higher prices and crop rotation practices; however, concerns associated with a potential El Niño event weigh on prospects," FAO specialists comment.

Previously it was reported that by of October 31, 2018, Ukraine had exported 13.29 million tons of grain, which is 75 thou. tons less than the indicator for the corresponding period of MY2017/18.