In the season-2014/15 global wheat production to decrease – FAO
In their latest report the FAO analysts forecast that in 2014/15 MY the world wheat production (including durum wheat) will total 702 mln tonnes, a decrease of 2 mln tonnes compared with estimations made in the previous month. The renewed index also lowered by 2% compared with the record high index expected in the current season - 716.2 mln tonnes.
In particular, the analysts considered that reduction of wheat planted areas in Canada will reduce the grain harvest in the country by 22%. At the same time, the reporting decrease may be compensated by growing of wheat production volumes in the USA.
In the countries of Southeast Asia the wheat harvest may reach record high levels. In China the index may slightly exceed the last year record results due to expanding of wheat planted areas. At the same time, in 2014 India may significantly raise its wheat production due to favorable weather conditions during ripening period.
In turn, the Black Sea region will face fairly substantial decline of wheat yield indices caused by rather dry spring. Thus, the FAO expects that in 2014 the general harvest of wheat in Russia, Kazakhstan and Ukraine will reduce compared with last year.
You can receive more detailed data on trends of the world grain market in the new season from the report of Natalia Merkusheva, economist at the Food and Agriculture Organization of the United Nations (FAO), within frames of the thirteenth international conference "Grain Forum - 2014: new markets, challenges and opportunities" (June 16-18, 2014, Odessa).
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