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Cereal production estimated to hit All-Time high
The Business Guardian
|July 10, 2023
The Food and Agriculture Organization of the United Nations (FAO) has released its latest Cereal Supply and Demand Brief, forecasting a record high in world cereal production for the 2023/24 period.
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The FAO has revised its global cereal production forecast to 2,819 million tonnes, indicating a 1.1% increase compared to the previous year. This upward revision is primarily attributed to improved prospects for global wheat production, which is now estimated at 783.3 million tonnes. The positive outlook for wheat production is supported by improved conditions in several countries, including Canada, Kazakhstan, and Turkey. However, despite the increase, global wheat production is still expected to decline by 2.3% compared to the previous season’s output.
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