IGC put world grain production record high in 2021/22
International Grains Council (IGC) experts project the world grain production in the 2021/2022 season at 2,287 mln t.
Analysts expect grain production to rise by 62 mln t or 3% next season, including new highs in wheat and corn.
Increased food, feed and industrial uses are seen lifting total consumption by 54 mln t YoY, to 2,286 mln t. At 609 mln t at the end of 2021/22, global stocks are projected to be unchanged YoY. Including reduced shipments of wheat and barley, global trade is seen declining by 6 mln t YoY, to 410 mln t.
IGC experts revised upward the world wheat production forecast for 2021/22 by 15.4 mln t, up to 790 mln t, 2% higher than the previous season's level (774 mln t). At the same time, analysts reduced the forecast for global wheat exports in 2021/22 by 6 mln t to 184 mln t.
Wheat production and export projection for 2021/22:
|Country||Harvest, mln t||Export, mln t|
|Argentina||20.3 (+3.1)||14.2 (+2.7)|
|Australia||25 (-8.3)||17.5 (-3)|
|Canada||34 (-1.1)||24.6 (-2.1)|
|EU||136.8 (+12.4)||30.1 (+1.2)|
|Kazakhstan||13.6 (-0.7)||7.5 (+0.2)|
|Russia||76.9 (-8.5)||34.1 (-4.8)|
|Ukraine||27.2 (+1.7)||19 (+1.5)|
|USA||51.1 (+1.4)||24.6 (-2.2)|
At 609 mln t at the end of 2021/22, global stocks are projected to be unchanged YoY. Including reduced shipments of wheat and barley, global trade is seen declining by 6 mln t YoY, to 410 mln t. World wheat stocks are expected at 304.3 mln t, 12 mln t higher YoY (2020/21 forecast: 292.3 mln t).
As of Mar. 24, staple grains export from Ukraine made up 34.45 mln t. Since the start of 2020/21, grain export shipment is 22.58% lower YoY.
- TOP 10 Importing Countries of Ukrainian Grain in 2020
- Wheat Exporters from Ukraine in 1H 2020
- Corn Exporters from Ukraine in 1H 2020