March 26, 2020 | Reuters
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IGC Forecasts Record World Grain Crop

Global grain stocks seen falling despite record output

The International Grains Council (IGC) on Thursday forecast record world grains production in the 2020/21 season while warning projections were tentative until the progress and duration of the coronavirus pandemic becomes clearer, reports Reuters.

The inter-governmental body, in its first full assessment of the 2020/21 season, projected world grains production would rise to a record 2.22 billion tonnes, up 2% from the prior season.

A modest decline in global grains stocks was forecast despite record production, with consumption seen rising to 2.23 billion tonnes, up from the prior season’s 2.19 billion.

Read the full report here.

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