IGC sub-indices for wheat and rice declined the most: minus 2% and 5%, respectively.
This organization raised its forecast for the world grain harvest for the third month in a row. In the report published last Thursday, this figure was increased by another 13 million tons – up to 2425 million tons. The increase compared to last year’s level will be about 4%. At the same time, global grain production, according to IGC estimates, has grown for the third consecutive year. This season’s global grain harvest is expected to be the highest since the 2016/17 season.
The forecast for global cereal production from the UN Food and Agriculture Organization FAO is even higher. Earlier, Logos Press reported that in the September report of FAO, the estimate of the global harvest of these crops reached a record level – 2961 million tons (+3.5% compared to last year’s figure).
