Despite the fact that a record volume of grain production is expected in 2021, it is estimated that their world stocks in 2021-2022 agricultural year could fall. ProAgro Group reports this, citing the Ukrainian Grain Association.
The FAO forecast for global grain production in 2021 was lowered from the October figures by 6.7 million tons to 2,793 million tons, but it is still 0.8 percent (21.5 million tons) higher than the 2020 level and a new record high.
The most significant component of this month’s decline in the forecast was a drop in expected global wheat production to 771 million tons, 6.2 million tons below October’s forecast and 0.8 percent below last year’s production.
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