Do We Expect an Increase in World Wheat Production?

Analysts have raised the forecast of world wheat exports in 2021/22 MY by 2 million tons or 1.6% to 192 million tons compared to the previous season (190 million tons). This was reported by the IGC.

Kyiv. Ukraine. Ukraine Gate – August 03, 2021 – Agriculture

Wheat harvest by country compared to the forecast for 2020/21 MY is expected at the following level:

Argentina – 20.3 million tons (+ 2.7 million tons), Australia – 28.9 million tons (-4.4 million tons);

Canada – 28.5 million tons (-6.7 million tons), the EU – 137.7 million tons (+13.2 million tons);

Kazakhstan – 12.5 million tons (-1.8 million tons);

Russia – 81 million tons (-4.4 million tons);

Ukraine – 29.5 million tons (+4.1 million tons);

USA – 47.5 million tons (-2.2 million tons).

In addition, wheat exports by country compared to the forecast for 2020/21 MY is expected at:

Argentina – 14 million tons (+4 million tons), Australia – 20.5 million tons (-2.3 million tons);

Canada – 20 million tons (-7 million tons), the EU – 33.6 million tons (+3.05 million tons);

Kazakhstan – 6.5 million tons (-1.3 million tons);

Russia – 38.1 million tons (-0.5 million tons);

Ukraine – 20.9 million tons (+4 million tons);

USA – 23.8 million tons (-3.2 million tons).

“The forecast of world grain consumption for 2021/22 MY has not changed and remained at 787 million tons, which is 18 million tons or 2.34% more than the forecast for 2020/21 MY – 770 million tons. World final wheat stocks in 2021 / 22 MRS are projected at 280 million tons, which is one million tons higher than the 2020/21 MR (279 million tons) and 3 million tons lower than the forecast for June, ”the analysts concluded.

Source: Ukrgate