GLOBAL HARVEST ESTIMATE FOR 2024-25 REVISED DOWNWARD TO 2.315 BILLION TONS, SAYS IGC

The International Grains Council (IGC) reduced its forecast for global grain production in 2024-25 from 2.321 billion to 2.315 billion tons due to decreases in barley, wheat, and sorghum production in the EU. Despite this, production is likely to surpass 2023-24 levels, with an estimated 2.299 billion tons. Global grain consumption was also adjusted downward, and stocks were decreased by 5 million tons. In contrast, soybean production increased to a record 419 million tons due to robust harvests in Argentina. Corn production was somewhat up, but stocks were also reduced.
Fonts: Broadcast / Udop (*Translated by Ia Niani)