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.
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