Export market for Wheat in Peru (11월, 2022)

The United Nations' Food and Agriculture Organization (FAO) has revised down its global cereal production forecast for 2022, reducing it by 4.9 million tonnes to 2,764 million tonnes, a decrease of 1.8 percent from the previous year. This downward revision is primarily due to a reduction in wheat production in the United States, although production forecasts in other countries remain unchanged. Additionally, the forecast for global coarse grain production has also been lowered, largely due to expected reductions in corn production in the United States and the European Union, both of which are experiencing more severe drought conditions than previously estimated. However, in Ukraine, corn production forecasts have been raised, offsetting some of the decline in expected production volumes in other countries. Global rice production for the 2022-23 season is expected to be 2.4 percent below the 2021 record but still above the crop average. High grain prices are expected to maintain large planted areas in 2023, although further expansion may be constrained by high production costs.