World trade in cereals in 2016/17 forecast at 388 million tonnes – FAO

World trade in cereals in 2016/17 is forecast at 388 million tonnes, nearly unchanged from the November forecast but down 2 percent (7.8 million tonnes) from the 2015/16 volume, the U.N. food agency said, adding that the contraction mostly stems from expectations that world trade in coarse grains (July/June) would fall 4.7 percent below the 2015/16 all-time high to 177 million tonnes in 2016/17, owing mostly to lower imports of maize, barley and sorghum by China.

Expectations are similarly subdued for global trade in rice, which is now seen posting an even smaller (0.6 percent) annual recovery in 2017 to 42.9 million tonnes, on account of lower demand from Far Eastern buyers.

By contrast, world wheat trade in 2016/17 (July/June) is envisaged to exceed the previous season’s high level by 0.4 percent (660 000 tonnes), reaching a new peak of 168.5 million tonnes. Ample export supplies and low prices are seen driving brisk trade in wheat this season, with Australia, the Russian Federation and the United States, standing as the main beneficiaries from the exporters’ perspective.

 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *