EU 2023-24 GRAIN OUTPUT REVISED LOWER
Extreme weather conditions across the EU have reduced grain production projections for the marketing year 2023-24, according to a report from FAS. Production for the 27 Member States of the EU has been revised to 1.1 million tonnes lower than the FAS’ previous forecast of 269 million tonnes. However, that still would be an increase over the estimated crop of 267.6 million tonnes in 2022-23. The FAS also lowered its projection for EU grain consumption in the current marketing year. The 1.8-million-tonne downward revision puts consumption at 259.5 million tonnes.
Grain imports and exports also are seen falling in 2023-24, the FAS said. Imports are forecast to decline by nearly 1 million tonnes from the previous year, with the Russia-Ukraine war continuing to impact trade. EU grain exports in 2023-24 were revised downward by 4.2 million tonnes from the summer forecast to 44.2 million tonnes, as the lower exportable supply in major corn exporting countries, such as Bulgaria and Romania, was not offset by larger French exports, the FAS said. If realized, this year’s export total would be 5% lower than a year ago.
(Link: WorldGrain)
CHINA POSTS TOP CORN CROP
Increased grain plantings by China, driven by its desire to improve food security and self-sufficiency for its 1.4 billion people, helped produce a record corn crop of 288.84 million tonnes in 2023, Reuters reported, citing the National Bureau of Statistics. Corn output rose 4% from 277.2 million tonnes in 2022, despite summer typhoons that damaged crops in some northern provinces of the world’s second-largest producer of the grain, behind only the United States. Rice production in 2023 stood at 206.6 million tonnes, and bean output, including mostly soybeans, was at 23.84 million tonnes. The area planted with grains reached 119 million hectares (294 million acres) in 2023, up 636,000 hectares, or 0.5%, year-on-year.
(Link: WorldGrain)
