World foodgrains production likely to dip by 2.5 pc in 2009-10
The world foodgrains production is expected to be lower by 2.5 per cent to 1,748 million tonnes in 2009-10 even as the International Grains Council (IGC) slightly improves its forecast for the current month.
New Delhi: The world foodgrains production
is expected to be lower by 2.5 per cent to 1,748 million
tonnes in 2009-10 even as the International Grains Council
(IGC) slightly improves its forecast for the current month.
In 2008-09, the global foodgrains production stood at
1,792 million tonnes (MT).
"An unexpected good yield in the EU and improved
prospects for US maize and spring wheat, resulted in a further
15 MT increase in the world grain production forecast to 1,748
MT, only 2.5 per cent short of the 2008 record," IGC said.
Till last month, UK-based IGC had pegged the global
foodgrains production at 1,733 million tonnes (MT). However,
it revised it slightly upward by 15 MT in its August report
after gauging the improved crop prospects in the US and
According to IGC report, the global wheat output is
pegged at 662 MT, an increase of 8 MT from last month, as
yields exceeded expectations in the US, Europe, Ukraine and
Similarly, the world maize output is forecast to be 787
MT in 2009-10, an increase of 7 MT from July forecast, but
short of 2MT from 2008-09 season, it said.
Meanwhile, global consumption is forecast to rise by
five million tonnes from last month to a record 1,741 MT,
mainly because of increasing use of maize to produce ethanol
in the US, the report said.
IGC also noted that the consumption of foodgrains for
feed purpose is expected to be lower than 2008-10 because of
less on-farm feeding in some countries and rising use of
Interestingly, the global ending stock in 2009-10 is
expected to be highest for eight year at 361 MT, compared with
354 MT in the last season, it said.
Noting on prices, the report highlighted that wheat
prices were under pressure last month following better-than-
expected harvest in the US and EU, further boosting the global