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    Home > Food News > Food Articles > IGC: Although production is the highest in history, global cereal ending stocks are expected to decline

    IGC: Although production is the highest in history, global cereal ending stocks are expected to decline

    • Last Update: 2021-07-29
    • Source: Internet
    • Author: User
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    Foreign media news on June 27: The International Grain Council (IGC) stated that although global grain production in 2020/21 (July to June) is expected to hit a record high, ending stocks are expected to fall to the lowest level in six years.
    Because of strong consumption growth
    .
     
    IGC predicts that global cereal production in 2020/21 will reach 2.
    216 billion tons, which is 3 million tons lower than last month's forecast, but higher than the previous year's historical record of 2.
    186 billion tons
    .
    The lower forecast of corn production in Brazil is the main reason for lowering the forecast of total cereal production this month
    .
     
    The 2020/21 global cereal ending stocks are expected to be 595 million tons, which is 5 million tons lower than the May forecast and also lower than the 621 million tons in 2019/20
    .
     
    The 2020/21 global grain trade forecast data is revised up by 5 million tons to 425 million tons, mainly because China's imports of corn, barley and sorghum exceeded expectations
    .
     
    As far as the 2021/22 season is concerned, total global cereal production will reach a record-breaking 2.
    301 billion tons, and ending stocks will increase to 597 million tons
    .
    The increase in corn production (mainly in China) is the main driving force for the increase in global cereal production
    .
     
    The increase in wheat imports in the Near East Asia region has boosted the global trade in grains in 2020/22 by 3 million tons to 418 million tons
    .
     
    According to the International Grains Council, the IGC’s Grain and Oilseed Price Index (GOI) fell 3% for the second consecutive month to 266, mainly due to the recent drop in field crop prices
    .
    The GOI data in April hit a record high of 285, an increase of 54% year-on-year, the highest level since 2013
    .
    cereals
     
    IGC predicts that global cereal production in 2020/21 will reach 2.
    216 billion tons, which is 3 million tons lower than last month's forecast, but higher than the previous year's historical record of 2.
    186 billion tons
    .
    The lower forecast of corn production in Brazil is the main reason for lowering the forecast of total cereal production this month
    .
     
      The 2020/21 global cereal ending stocks are expected to be 595 million tons, which is 5 million tons lower than the May forecast and also lower than the 621 million tons in 2019/20
    .
     
      The 2020/21 global grain trade forecast data is revised up by 5 million tons to 425 million tons, mainly because China's imports of corn, barley and sorghum exceeded expectations
    .
     
      As far as the 2021/22 season is concerned, total global cereal production will reach a record-breaking 2.
    301 billion tons, and ending stocks will increase to 597 million tons
    .
    The increase in corn production (mainly in China) is the main driving force for the increase in global cereal production
    .
     
      The increase in wheat imports in the Near East Asia region has boosted the global trade in grains in 2020/22 by 3 million tons to 418 million tons
    .
     
      According to the International Grains Council, the IGC’s Grain and Oilseed Price Index (GOI) fell 3% for the second consecutive month to 266, mainly due to the recent drop in field crop prices
    .
    The GOI data in April hit a record high of 285, an increase of 54% year-on-year, the highest level since 2013
    .
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