WORLD CEREAL OUTPUT SEEN UP IN 2023/24
FAO released a new Cereal Supply and Demand Brief on Friday, raising its forecast for world cereal production in 2023/24 to 2 841 million tonnes, reflecting expectations of greater outputs of maize, rice and wheat. Global cereal utilization in 2023/24 is pegged at 2 828 million tonnes, a 1.3 percent increase from the 2022/23 level. World cereal stocks are forecast to end the 2024 seasons at 894 million tonnes, a 2.3 percent increase from the outset of the year, pointing to a worldwide cereal stocks-to-use ratio of 31.0 percent.
World trade in cereals is forecast to rise 1.7 percent from the previous year to 485 million tonnes in 2023/24. International trade in coarse grains is expected to expand from 2022/23, while wheat and rice trade will likely contract.FAO also adjusted its forecast for global wheat production in 2024, now standing at 796 million tonnes, marking a 1.0 percent increase from 2023. For coarse grain crops, sowing will begin soon in the northern hemisphere, while harvests have already begun south of the equator. While Argentina’s output is expected to rebound after the drought-impacted outturn of 2023, smaller outputs are expected in Brazil and across Southern Africa.
(Link: VietnamAgriculture)
INDIA ALLOWS EXPORTS OF ESSENTIAL GOODS TO MALDIVES DESPITE STRAINED TIES
India has allowed limited exports of essential commodities, including sugar, wheat, rice, and onions to the Maldives, even as ties between Male and New Delhi remained tense amid rising Chinese influence. India, a leading exporter of rice, sugar and onions, has imposed various curbs on exports of these food commodities to keep a lid on local prices ahead of general election. The South Asian country has allowed exports of 124,218 metric tons of rice, 109,162 tons of wheat flour, 64,494 tons of sugar, 21,513 metric tons of potatoes, 35,749 tons of onions, and 427.5 million eggs to the Maldives. India has also allowed exports of 1 million tons each of stone aggregate and river sand.
(Link: Reuters)
