FAO predicts a record grain harvest in the world in the 2023/24 season

Grain production in the 2023/24 season will be a record 2.8 billion tons, which is 1.2% more than the previous one due to a higher corn harvest.
This forecast was published by the Food and Agricultural Organization of the United Nations (FAO).
According to FAO estimates, world grain production in the 2023/4 season will amount to a record 2,847 million tons. This increase is due to the increase in corn production, which more than compensated for the decrease in sorghum and wheat production.
The volume of grain consumption in the 2023/24 season may also exceed the level of the 2022/23 season by 1.6% and will amount to 2,836 million tons. The main increase is associated with an increase in the consumption of feed grains and wheat, especially for feed purposes, against the background of the availability sufficient stocks.
Grain stocks at the end of the season are expected at 884 million tons, which is 1.4% higher than the level at the beginning of the season and is due to an increase in stocks of feed grains and rice against the background of some reduction in wheat stocks in the world.

In connection with the growth of feed grain trade, FAO expects that the volume of international grain trade in the 2023/24 season will increase by 1.7% compared to the previous season and will amount to 487 million tons. At the same time, the volumes of wheat and rice trade will be lower than the corresponding levels of the 2022/23 season.

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