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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
.
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
.
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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
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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
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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
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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
.
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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
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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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The GOI data in April hit a record high of 285, an increase of 54% year-on-year, the highest level since 2013
.