The rice production globally is expected to hit a new record this year at almost 496 million tonnes, reports NaijaAgroNet.
According to the Food and Agriculture Organisation (FAO), this is owing to favourable weather conditions in much of Asia and on more United States (U.S.) farmers shifting to the crop as a result of its more attractive relative price.
NaijaAgroNet also reports that FAO did not materially change its forecast for world cereal utilization in the coming year, which is expected to grow by 1.6 per cent, led by maize - and to some extent lower-quality wheat supplies - used as animal feed.
The FAO trade forecast for cereals in 2016/17 has been scaled up by almost 9 million tonnes on the back of abundant export availabilities of wheat and coarse grains.
On the coarse grain global output for 2016, NaijaAgroNet reports that estimated 1,329 million tonnes, 2.1 per cent higher than in 2015, buoyed by higher forecast maize output in several countries, in particular the U.S.
Further, NaijaAgroNet reports that the wheat output forecast was also raised to 741 million tonnes, driven by large upward revisions to projections for Australia, North America, India and the Russian Federation. Russia is poised to become the world's largest wheat exporter in 2016/17, overtaking the European Union, where wet weather has hampered this year's crops.
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