Based on the FAO’s latest forecast, world cereal production in 2020 is set at 2 790 million tonnes, which would surpass the record high reached in 2019 by as much as 3 percent (81.3 million tonnes) and which would be 5 percent above the five-year average from 2015–2019. The forecast is based on near-average supply prospects in the new season, which, however, remain uncertain due to possible climatic shocks and the ongoing COVID-19 pandemic impact.

 In many parts of the world, local markets are bracing for the looming impacts of COVID-19 amid uncertainties related to demand, logistics and even access to food. Close monitoring of the market will be necessary for the next several months.