Global grain production data revised upward, latest release from the UN Food and Agriculture Organization
UN Food and Agriculture Organization raises global grain production data
(Agricultural Wealth Network) According to the UN Food and Agriculture Organization (FAO), global grain production in 2009 is expected to reach 2.234 billion tonnes, only two percent below the record level of the previous year and nearly 26 million tonnes higher than the earlier forecast.
In its latest food security and crop prospects report, the FAO stated that the main reason for the upward revision of grain production data was that wheat production figures for Asia, Europe and the United States were higher than expected.
The upward revisions to wheat and coarse grain production data offset the downward revision to rice production data. Since July, abnormal weather in some major Asian countries, combined with the impact of natural disasters, has worsened the rice production outlook.
The FAO stated that the clear grain production outlook, together with relatively good carryover stocks from the previous year, has eased market concerns about overall supply, at least for the current year.
The FAO currently forecasts this year's wheat production at 678 million tonnes, higher than the earlier forecast of 655.2 million tonnes. Coarse grain production data was revised upward by 15 million tonnes to 1.108 billion tonnes, due to an upward revision of United States production data.
The FAO forecasts rice production will reach 672 million tonnes, a decrease of 2.3% from the previous year's record of 688 million tonnes. The FAO noted that poor monsoon rains in India, followed by flooding disasters, caused severe damage to rice. The Philippines also suffered severe damage from typhoons.
Overall, this forecast data confirms that this year's grain production will be the second-highest level in history.
The recovery in global grain supply helps to suppress prices, and farmers in Europe and the United States may reduce wheat planting area next year.
The FAO stated that global grain use in 2009/10 will increase more than earlier expected, partly due to falling prices. But even so, global stocks will increase slightly, reaching the highest level in eight years.
The latest report released by the International Grains Council (IGC) states that global wheat production (including durum wheat) in 2009/10 is forecast at 666.8 million tonnes. Global grain production in 2009/10 is 1.76 billion tonnes.
In its latest food security and crop prospects report, the FAO stated that the main reason for the upward revision of grain production data was that wheat production figures for Asia, Europe and the United States were higher than expected.
The upward revisions to wheat and coarse grain production data offset the downward revision to rice production data. Since July, abnormal weather in some major Asian countries, combined with the impact of natural disasters, has worsened the rice production outlook.
The FAO stated that the clear grain production outlook, together with relatively good carryover stocks from the previous year, has eased market concerns about overall supply, at least for the current year.
The FAO currently forecasts this year's wheat production at 678 million tonnes, higher than the earlier forecast of 655.2 million tonnes. Coarse grain production data was revised upward by 15 million tonnes to 1.108 billion tonnes, due to an upward revision of United States production data.
The FAO forecasts rice production will reach 672 million tonnes, a decrease of 2.3% from the previous year's record of 688 million tonnes. The FAO noted that poor monsoon rains in India, followed by flooding disasters, caused severe damage to rice. The Philippines also suffered severe damage from typhoons.
Overall, this forecast data confirms that this year's grain production will be the second-highest level in history.
The recovery in global grain supply helps to suppress prices, and farmers in Europe and the United States may reduce wheat planting area next year.
The FAO stated that global grain use in 2009/10 will increase more than earlier expected, partly due to falling prices. But even so, global stocks will increase slightly, reaching the highest level in eight years.
The latest report released by the International Grains Council (IGC) states that global wheat production (including durum wheat) in 2009/10 is forecast at 666.8 million tonnes. Global grain production in 2009/10 is 1.76 billion tonnes.