According to the updated FAO forecast, the production of cereals in the world in 2021 will reach 2,793 million tons, which is 0.8% more than a year earlier. ProAgro Group reports this, citing information from the Food and Agriculture Organization of the United Nations.
According to the latest release of the FAO Cereal Supply and Demand Summary, wheat production in 2021 will be comparable to 2020, with coarse grains production 1.3% and rice production 0.7% higher than a year earlier.
In 2022, wheat plantings are expected to increase, helped by good weather conditions in the Northern Hemisphere, but a significant increase will be hampered by high input prices. The outlook for maize looks promising, with high prices set to push plantings to record highs in Argentina and Brazil.
Global cereal consumption for the 2021/22 season is expected to increase by 1.6% over the previous season, bringing the stock-to-use ratio down to 28.7%, slightly higher than a year earlier but still comparable to previous periods.
