FAO updates world grain supply - stocks again lower than last year
The report regularly published at the beginning of the month by the Food and Agriculture Organization of the United Nations (FAO) confirms a continued reduction in the supply situation for world cereals (excluding rice). According to FAO calculations, production has fallen to 2,314 million tons compared to the previous year. Global consumption is estimated at 2,313 million tons, slightly less than in 2023. According to FAO calculations, global stocks will fall to 29.5% of final stocks to consumption.
The most recent estimate of global wheat supply resulted in a production volume of 791 million tons and consumption of 793 million tons; accordingly, stocks are also expected to decline in 2024/25. Global wheat trade falls by -4%. The decline in exports from the Black Sea countries and the EU will not be fully offset by increases in other producing countries.
The rest of the grain sector, with a focus on maize, will be reduced by around -10 million tons to a production volume of 1,523 million tons. In contrast, consumption is expected to increase slightly to around 1,526 million tons. Ultimately, the supply situation will become tighter.
The production estimates are subject to some uncertainty, particularly in the case of maize, due to the outstanding harvests.
