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FAO pegs global Cereal output at 2587 MT in 2018
Commodity Online | September 12 2018
UPDATED 14:31:02 IST

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The Food and Agriculture Organisation (FAO) forecasts global cereal production in 2018 to reach 2,587 million tons, a small upward revision from July but a three-year low and 2.4 percent below last year's record high level.

The organization noted that dry and hot weather intensified yield reductions around Europe, and the world wheat production forecast for this year amounted to almost 722 million tons -- the smallest crop since 2013.

"On the other hand, worldwide production of coarse grains was revised up by 15 million tonnes since July, with improved outlooks for maize in China, Ukraine and the U.S., more than offsetting expected output reductions in the EU and Russia," it said.

"FAO now expects 2018 coarse grain output to be nearly 1,354 million tons, some 2.6 percent below the level of 2017," it added.

The organization said global rice production is expected to reach a new record of almost 512 million tons in this year.

FAO also updated its projection for world cereal utilization to 2,648 million tons, "largely due to greater use of maize for feed and industrial use and the robust rice harvest".

Cereal stocks are also being reduced, especially in China, the EU and Russia, and the global cereal stock-to-use ratio is expected to slide to 27.3 percent, a five-year low," it said.

"The forecast for world trade in cereals over the 2018/2019 season has been revised up to nearly 414 million tons, about 1.5 percent below the previous year's record high."

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