Over the next 10 years global volume of wheat export will increase by 22% — FAO
By 2023, compared to the current year, global wheat export is expected to grow by 22%, grain for feed- by 14%. This, on November 26, has been stated in Mr. Dmytro Pryhodko’s report, the economist of Investment Center of Global Food and Agriculture Organization (FAO) in Kiev while at second round of V Ukrainian Grain Congress.
«The increase in the volume of global grain exports will be caused by an increase in the world population, as well as volume of meat consumption. Taking that, by 2023 Ukraine’s share of global wheat exports will be about 25%, »- said the expert.
Mr. Pryhodko also noted that, according to FAO’s June forecast, it is expected that over next 10 years consumption of wheat in Ukraine will decline.
«This estimate, however, may change upwards due to decline in the purchasing power of the population in Ukraine, as a result, consumption volume of bakery products may increase,»- said the expert.
Mr. Pryhodko says that, according to the forecast, in the next 10 years U.S. will keep its leading positions as world’s largest wheat exporter, despite a slight decrease in the supply of the given product onto foreign markets.
«Ukraine will increase its wheat export, yet will hardly change its position among TOP global exporters. In general, by 2023 wheat exports are expected to increase from the countries of the Black Sea region», — Mr. Pryhodko added.