The Food and Agriculture Organization of the United Nations (FAO) expects wheat production to reach 2023 million tons in 786. Nevertheless, this value remains 1,3 percent below the values of 2022 - an industry record.
"Despite the drought in North America and southern Europe, almost record-breaking harvest areas are expected in Asia," Reuters quoted a comment from the organization as saying.
After the season, the FAO expects a total production of 2,777 billion tons Grains – 1,2% less than last year.
Prices are trending down at the same time, according to FAO calculations. The price index fell in March:
- on grain (including Wheat) — to 5,6%;
- for vegetable oils – at 3%;
At the same time, the sugar prices by 1,5% - the highest since October 2016 - as production in India, China and Thailand fell.
Source: oleoscope (Russian)