Global grains output to reach new peak in 2023-24: IGC

MG News | May 22, 2023 at 11:37 AM GMT+05:00

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May 22, 2023 (MLN): The forecasted total grains production in the 2023-2024 season was uplifted to 2.294 billion metric tons of grains, the latest data released by the International Grains Council (IGC) in its May report showed.

Global production of wheat, corn, barley, and other grains is forecast to hit an all-time high in the forthcoming season.

With a much improved global harvest boosting supplies, dry peas stocks are seen rising by around two-thirds YoY in 2022-23.

IGC stated in the May report that “with an uprated corn forecast more than offsetting downgrades for wheat and barley, 2023/24 total grains production is now seen at an all-time peak,”

The aforesaid projection is up from a forecast of 2.254bn tons for the 2022-23 season, which is currently drawing to a close, and up from the record set in 2021-22 at 2.293bn tons.

Total Grains ( in bn metric tons)
	FY20-21	FY21-22	FY22-23F	FY23-24F
Production	2.228	2.293	2.254	2.294

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