FAO improved the global 2018/19 grain production to 2.66 bln t

The global grain production in MY2018/19 is projected by FAO at 2 661 million tons. This volume is slightly higher than the December forecast and reflects an upward revision of the forecasts for corn and wheat.

Despite this month’s upward revisions, global grain production still remains 1.8 pct (47.4 million tons) below the record high of 2017.

With the bulk of the winter wheat crop in dormancy in the Northern Hemisphere, the early outlook portends a rebound in production, although the output is still expected to fall short of 2017’s record high.

Much of the projected growth is associated with expected increases in Europe, where beneficial weather has so far shored up yield prospects while also sowings are forecast to expand, largely driven by attractive prices. The biggest year-on-year production increases are forecast for the EU, the Russian Federation and Ukraine.

Reference: since the start of the 2018/19 season, as at January 31st, 28.05 million tons of grain were exported from Ukraine, 11.75 million tons of which is wheat.

The new infographic guide Agribusiness of Ukraine 2017/18 is available by the link.