The U.S. Department of Agriculture has maintained its wheat harvest forecast in Ukraine at 21 million tons in the 2022/2023 marketing year (July 2022 - June 2023).
This follows from a statement by the Ukrainian Agribusiness Club association, the Ukrainian News agency reports.
"According to the updated forecasts of the USDA, in 2022/23 Ukraine's wheat and corn production indicators remain at the level of the previous forecast: 21.0 million tons and 27.0 million tons, respectively. Wheat export indicators also remain unchanged - 13.5 million tons, and corn - increased by 1 million tons to 23.5 million tons," the message says.
The forecast of world wheat production increased by 5.1 million tons to 788.9 million tons.
At the same time, the increase in wheat production will mainly be due to Kazakhstan by 2.4 million tons to 16.4 million tons, Australia by 1 million tons to 39 million tons, and India by 1 million tons to 104 million tons.
The estimate of global ending stocks decreased by 2.1 million tons to 267.2 million tons.
At the same time, the decrease in final stocks against the background of increased production occurred due to a downward revaluation of initial wheat stocks.
The forecast of world corn production decreased by 3.8 million tons to 1,147.5 million tons.
According to the report, these changes were driven by a decrease of 7 million tons for Argentina to 40 million tons, partially offset by increases for India and Paraguay.
At the same time, ending stocks are expected to grow by 1.2 million tons to 296.5 million tons.
As the Ukrainian News agency earlier reported, according to the results of 2022, the production of grain crops in Ukraine decreased by 37% compared to the previous record figures of 2021 and amounted to about 53.9 million tons.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.