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IGC: forecast reduced production of cereals in season2024/2025

IGC: prognoza mniejszej produkcji zbóż w sezonie 2024/2025

Prognosis month to month

Right only because of adjustments in commodity forecasts of world cereal production total (wheat and cereals forage) in the season 2024/2025 are reduced by 7 million to month to month, to 2,305 billion tonnes. Total consumption is projected at a level of 2,335 billion ton, by 4 million ton more than in November, primarily based on greater industrial consumption (for production of ethanol), but also after taking into account higher data on consumption of food. After taking corrections in down for corn and barley, estimates of stocks transferred (total for individual local years marketing) declined by 3 million ton, to 573 million ton.

Prognosis year to year

Based on information about surface seeding and weather conditions in the major regions the prediction is made, that global wheat production in the season 2024/2025 will record 805 million ton . Being considering that supply will increase only significantly, the projected increase in consumption may result in further reduction of stocks at the end of the season. Projected that trade turnover will significantly increase, mainly because of increased purchases to Asia.

It is expected that total cereal production will decrease significantly in 2024/2025 , with substantially small changes year to year for major commodities. IGC estimates, that increases in the price of food, feed and industrial use will increase total consumption to 2,235 million tons, which stands as a new record, however the yearly increase by 1 proc. will be slower in comparison with the previous season and last average. In accounting for record demand and a slight limitation of supply, it is projected that world stocks will drop by 5 percent, to the lowest level for 10 years, amounting to 573 million tons, which will be the third

of the order decline. Turnover of grain will be 420 million ton, which means a decrease

of 8 proc, in year year, at which imports to China decreased by 40 proc.

 

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IGC:stableSeptember-prognosistotalworldproductionofgrains

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