Accordingly, global grain consumption in the 2023/24 crop year is currently forecast to be 2.823 million tons, up 1,1% over the previous year, mainly due to increased use of corn and wheat as animal feed. . Global grain stocks are expected to rise due to coarse grains, with global coarse grain stocks forecast at a “comfortable” 31,1%, up from 30,9%. World grain trade is forecast to increase 1,3% over the previous year, thanks to improved prospects for Ukrainian corn exports and strong demand from China.
Preliminary forecasts for global wheat production in 2024 are estimated at 797 million tons, up 1% from 2023. Lower wheat prices have caused winter wheat plantings in the United States to decrease by 6% over the same period. period last year. However, US wheat production may increase due to strong yield prospects. Favorable weather conditions are also fueling expectations for increased 2024 wheat production in the Russian Federation, with production reaching above average levels in China, India and Pakistan.
According to the report Industry outlook and World food situation, geopolitical conflicts and adverse weather are exacerbating hunger in 45 countries around the world that need external food assistance. This is a three-year periodic publication of the Global Information and Early Warning System (GIEWS) of FAO.
According to the report, conflicts in near-East Asia and West and East Africa are driving alarmingly high levels of the most severe food insecurity, with concerns very high about the situation. image of all the people of the Gaza Strip in Palestine. Widespread dry weather conditions are likely to worsen food insecurity in South Africa.
Although 2024 grain production is forecast to increase slightly among the Group of 44 low-income food-deficit countries, low 2023 production and depleted reserves have pushed up import demand in some sub-Saharan countries. increase.
The 2024 grain harvest will begin in April in South Africa, where widespread and prolonged rainfall deficits due to the El Niño weather phenomenon have sharply reduced production prospects. Major growing regions in Malawi, Mozambique, Zambia and Zimbabwe have received less than 4% of average rainfall since November 80, suggesting their growing need for grain imports in 11/2023. upcoming.
