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Worldwide production of coarse grains is set to reach a new record, thanks to expansion in South America and southern Africa. Wheat production, by contrast, is forecast to decline slightly due mostly to lower harvest volumes foreseen in the United States of America. Global rice output, on the other hand, is expected to remain broadly stable.
FAO's latest estimates point to a 1.0 percent expansion in world cereal utilization in the coming year, with world cereal stocks on course to set a new record level by the close of seasons in 2018. Global stocks of rice and coarse grains are projected to hit record highs, while those of wheat already have.
Given the ample size of export supplies, competition among major exporters in the year ahead is expected to remain stiff, with expanding world trade volumes in maize, sorghum and rice offsetting an expected decline in wheat.
FAO will offer more detailed information and analyses of key food commodity trends on 9 November, when it releases the next issue of Food Outlook.
Thursday November 2, 2017/ FAO.
http://www.fao.org
