MercoPress. South Atlantic News Agency

FAO forecasts new record level of cereals production this year: 2.479m tons

Plenty of wheat this season, probably the highest volume in history

World total cereal production is forecast to increase by about 7% in 2013 compared to last year, helping to replenish global inventories and raise expectations for more stable markets in 2013/14, according to the latest issue of FAO quarterly Crop Prospects and Food Situation.

The increase would bring world cereal production to 2 479 million tons, a new record level.

FAO now puts world wheat output in 2013 at 704 million tons, an increase of 6.8%, which more than recoups the previous year's reduction and represents the highest level in history.

World production of coarse grains in 2013 is now forecast by FAO at about 1 275 million tons, up sharply 9.7% from 2012.

World rice production in 2013 is forecast to expand by 1.9% to 500 million tons (milled equivalent) although prospects are still very provisional.

Cereal imports of Low-Income Food-Deficit Countries for 2013/14 are estimated to rise by some 5%, compared to 2012/13, to meet growing demand. Egypt, Indonesia and Nigeria, in particular, are forecast to import larger volumes.

International prices of wheat declined slightly in June with the onset of the 2013 harvests in the Northern Hemisphere. By contrast, maize prices increased, supported by continued tight supplies. Export prices of rice were generally stable.