The UN Food and Agriculture Organization (FAO) expects wheat production of 786 million tons in 2023. Nevertheless, this value remains 1.3% below the 2022 record for the industry.
At the end of the season, FAO expects total production of 2.777 billion tonnes of cereals , 1.2% less than last year.
Prices, according to FAO estimates, at the same time tend to decline. In March, the price index decreased:
— cereals (including wheat) — by 5.6%;
– for vegetable oils – by 3%;
At the same time, sugar prices rose by 1.5% – to the highest since October 2016 – due to lower production in India, China and Thailand.
Source: field.rf