FAO raised its forecast for global wheat production in 2015
On April 2, the press service of FAO stated that according to the organization’ forecast, in 2015 global wheat production will reach 722 million tons, which is almost 1% below the current estimate of grain harvest in 2014; yet it is by 2 million tons higher than previously forecasted.
It is indicated that such reduction is primarily caused by reduced plantings in the EU. “If harvests in China, India and Pakistan are expected to be close to a record in 2014, then, production in the Russian Federation and Ukraine is predicted to decline,” — as stated in a press release.
As for forage grains, in the Southern Hemisphere, the early indications point to a decline in 2015 production from last year’s high levels. In South Africa, corn production is expected to decline sharply, by 33%, caused by a severe rainfall deficits earlier this year.
Prospects for rice production for 2015 are generally positive in the countries of Southern Hemisphere, with a forecast of significant growth in Indonesia and Sri Lanka in Asia, Colombia and Paraguay in South America. In Australia, by contrast, output is officially anticipated to fall by 18%, reflecting lingering shortages of irrigation resources.
Also, evaluation of the grain harvest in 2014 was upgraded by FAO analysts to 2 544 million tons, mainly due to a larger-than-expected corn crop in the EU.
