Due to Ukraine's harvest: UN improves its forecast for world grain production
The Food Organization of the United Nations (FAO) has improved its forecast for global grain production in 2023 to 2.81 billion tons, up 0.9% from last year
This is stated in a message on the FAO website.
The higher forecast is almost entirely based on recent positive assessments of Ukraine's yields compared to previous expectations due to the persistence of favorable weather conditions.
In the new FAO report on grain supply and demand, global wheat production is estimated at 785 million tons, feed grain production at 1.51 billion tons (2.7% more than in 2022), and global rice production at 523.1 million tons.
The FAO Food Price Index averaged 121.5 points in September, up from 121.4 points in August. The index tracks monthly changes in international food prices traded on the world market.
At this level, the index is 10.7% below its value a year ago and 24% below the historical high reached in March 2022.
In September, prices for vegetable oils, dairy products, and meat fell on global markets. Prices for sugar and corn were on the rise.
- In August, the Ministry of Agrarian Policy improved its forecast for this year's harvest. It emphasized that Ukraine would thus be able to increase its agricultural exports.