Corn forecasted to drive world cereals production growth in 2021

Current prospects for world cereal production point to a third successive year of moderate growth, with FAO’s first forecast for the world cereal output in 2021 now pegged at nearly 2 821 mln t (including rice in milled equivalent), a new record and 1.9% above the outturn in 2020.

The Food and Agriculture Organization of the United Nations (FAO)

"The bulk of this year’s foreseen growth relates to maize, with output anticipated up 3.7% from 2020. Global wheat production is also expected to increase, up 1.4% year on year, while rice production is set to go up by 1.0%."

While FAO’s first forecast for world trade in cereals in 2021/22 indicates an increase of only 0.3% from the high level estimated for 2020/21, much will depend on the volume of cereals to be imported by China, the report reads.

Word cereal trade in 2020/21 is seen to expand by as much as 6.3%, reaching a peak level of 468 mln t. Most of this sharp increase, however, reflects surges in imports of cereals by China, which are expected to rise by 30 mln t (123%) from the previous season.

Grains bulk yield in Ukraine in 2021 is forecasted 8.8% higher YoY by the National Scientific Center Institute of Agrarian Economics.

As of May 28, grains and legumes planting in Ukraine was 96% completed.