WillAgri
The global cereal harvest will reach a historic high in 2019, totalling 2.7 billion tonnes, i.e. 2.1% more than 2018. According to FAO, this increase is due to increased volumes of secondary cereals (corn, barley, sorghum, oats) and wheat. Primary production will be 1.43 billion tonnes (a 1.7% increase) and secondary production will be 766.4 million tonnes (a 4.8% increase). Rice production should reach 515 million tonnes, a 0.5% decrease due to off-season difficulties in Thailand and Vietnam. African rice production should increase, particularly in Egypt, Madagascar and Nigeria. The announcement of increased cereal production came as FAO announced the biggest increase in agricultural prices in 2 years. The FAO price index in November increased by nearly 10% compared to the same month last year, mainly due to increased pork prices caused by swine fever.
Source: Ecofin