Crop Prospects and Food Situation #3, September 2010

Year of publication2010

AuthorFAO

PublisherFAO

AbstractInternational prices of grain have surged since the beginning of July in response to drought-reduced crops in CIS exporting countries and a subsequent decision by the Russian Federation to ban exports. In September wheat prices were 60 to 80 percent higher than at the beginning of the season in July. However, prices are still one-third below their peaks in 2008. In the same period, the price of maize increased by about 40 percent, while that of rice by only 7 percent. FAO’s latest forecast indicates a 2010 global cereal production of about 2 239 million tonnes, only 1 percent lower than last year and still the third largest crop on record. Reduced outputs of grains in CIS countries account for most of the decline. At the current forecast level, the 2010 cereal production, coupled with large carryover stocks, should be adequate to cover the projected world cereal utilization in 2010/11. The world cereal stocks-to-use ratio at the end of marketing year 2010/11 will decline only marginally to 23 percent, still well above the 19.6 percent low level registered in the 2007/08 food crisis period.

 

Product typeBook (stand-alone)

SeriesCrop Prospects and Food Situation

RegionGlobal

ISSN2707-2231

Areas of workGlobal Information and Early Warning System

KeywordsStocks; yields; agricultural products; yield forecasting; agricultural situation; diffusion of information; weather; disasters; food crops; trade; food supply; emergency relief; cereals; production; international trade; cereal crops; food stocks; imports;