World production of major cereals seen declining in 2022, first time in four years

raphael-rychetsky-li9JfUHQfOY-unsplash-scaled.jpg

Photo by Raphael Rychetsky on Unsplash

World production of major cereals is expected to decline in 2022 for the first time in four years, while global utilisation is also seen down, for the first time in 20 years, according to a new report by the Food and Agriculture Organization of the United Nations (FAO).

However, the use of cereals for direct food consumption by humans is not anticipated to be impacted, as the decline in total use is expected to result from lower feed use of wheat, coarse grains and rice, the report added.

World wheat stocks are set to increase marginally in the year, mostly due to anticipated build-ups of inventories in China, the Russian Federation and Ukraine.

Word maize output and utilization are forecast to hit new records, associated with greater ethanol production in Brazil and the United States of America as well as industrial starch production in China.

Global consumption of vegetable oils is predicted to outpace production, despite expected demand rationing.

While meat production is expected to decline in Argentina, the European Union and the United States of America, global output is forecast to expand by 1.4 percent, led by an 8-percent foreseen increase in pig meat production in China, reaching and even exceeding the level before the dramatic spread of the African swine fever virus in 2018.

World milk production is forecast to expand more slowly than in previous years, constrained by falling dairy herd numbers and lower profit margins in several major producing regions, while trade may contract from the elevated level of 2021.

World sugar production is expected to increase after three years of decline, led by gains in India, Thailand and the European Union.

Global aquaculture production is forecast to increase by 2.9 percent while that of capture fisheries will likely expand by 0.2 percent. Reflecting rising prices of fish, total export revenues from fisheries and aquaculture products are anticipated to climb by 2.8 percent, while volumes seen dropping by 1.9 percent, the report said.

Leave a Reply

Your email address will not be published.