According to an updated report, the International Grains Council (IGC) dated 30 may, global cereal production in 2019-20 MG will decrease by 1 million tons compared to the previous expectations to 2,177 billion tons. While a year earlier this indicator is estimated at 39 million tonnes more modest. Recall that in the 2017-18 season, the harvest amounted to 2,141 billion tons,reports IA “КазахЗерно.kz”.
Forecast of consumption of grain in the period under review was also corrective down at the end of may by 9 million tons to 2,192 billion tons, compared to the April expectations. A year earlier, the volume of use was 26 million tons modest.
The volume of the grain trade in the world market in the 2019-20 year, according to the may report of the IGC, could reach 369 million tons. The previous report had promised a more modest figure of 1 million tons lower. In the previous two seasons sales amounted to 366 and 369 million tons, respectively.
World ending stocks of grain in the season, according to the latest data, can grow to 602 tonnes compared to the estimates of the previous reporting period (588 million tons). In this year 2018-19 is expected to be completed with reserves in the amount of 617 million tonnes.
In addition, experts from the International Grains Council (IGC) has adjusted the forecasts for the yields of most major crops in the 2019-20 season in the latest report.
World wheat production this year, according to the may forecast, and could grow to 766 million tons in comparison with the previous year (733 million tons). Earlier harvest prospects inferior to the current expectations at 4 million tons.
Assessment of analysts IGC, in respect of the corn crop in 2019-20 MG in the latest report reduced to 1,118 billion tons. A month earlier, the prospects were more optimistic than 7 million tons. We will remind, the previous season this index is higher by 8 million tons.
The soybean crop on the world market in 2019-20 MG, according to the may report of the IGC, will be reduced to 358 million tons against an estimate of the harvest of the previous season (363 million tonnes). In April, the forecast was more optimistic at 3 million tons.
World production of rice in the 2019-20 season, according to the updated forecast, could reach 504 million tons. This is 4 million tons higher than the figure recorded the previous season. We will remind, a month earlier, the prospects were higher by 1 million tons.