Analysts from the UN Food and Agriculture Organization have raised their forecast for world grain production in 2024 to 2.854 billion tons, a new all-time high, World of NAN reports.
The higher outlook reflects better corn crop forecasts in Argentina and Brazil, as well as Turkey and Ukraine, offsetting worsening conditions in Indonesia, Pakistan and several South African countries.
The wheat production forecast was also raised, up 0.3% from the June estimate to 789 million tonnes, thanks to better grain crop prospects in some Asian countries, particularly Pakistan.
It is also projected that total global cereal consumption in MY 2024/25 will increase to 2.856 billion tons, up 0.5% from the previous season, driven by rice and coarse grains.
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