World on the Verge of Record Cereal Production despite Volatile Markets

  • International
  • 27 July 2023
1

The International Grains Council (IAC) predicted that the global cereal harvest would be recorded this season, with high maize and rice production, in a market that remains volatile and sensitive to the impact of the El Niño phenomenon and the risks associated with the war in Ukraine.

The International Grains Council, which brings together importing and exporting countries, excluding rice, expects to produce 2.3 billion tons of cereals representing maize, wheat, and barley. This increase seems slight compared to the 2021-2022 season, which preceded a difficult year last season due to drought.

Maize production continues to rise, with an estimated 1.22 billion tons, up 5.5 percent year-on-year.

Source (Al-Arab Newspaper of London, Edited)

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