World grain prices grow

19 November 2012 - 1:44pm


The UN Food and Agriculture Organization (FAO) has published forecasts of grain production in 2013. Grain production is expected to drop by 2.7% to 2284 million tons. Wheat production will drop by 5.5%, forage by 2.5%, ARKA reports.

Grain reserves will total 497.4 million tons at the end of the agricultural season of 2012, which is less than the volume in early 2012 by 4.8%.

World grain supply will total 2806.6 million tons (dropping by 0.2, compared with October forecasts) at a demand of 2313.9 million tons. Demand for grain will exceed supply by 29.9 million tons.

Ratio of grain reserves to consumption will drop from 22.6% in 2012 to 20.6% in 2013. It is comparable with the lowest recorded indicator of 2007/2008 (19.2%).

Grain exports and increasing prices should reduce grain trade volumes by 6.9% in 2012/2013.


Read also

Dec 19 2014 - 19:23
Catarina Derkorn, the head of the economic cooperation section of the German embassy in Georgia has informed Georgian Minister for Finances Nodar Khaduri today that Germany will grant Georgia 20 million euros for development of infrastructure, Trend reports.
Dec 19 2014 - 19:07
UAE Deputy Foreign Minister for Political Affairs Ahmad Abdulrahman Ahmad al-Jarman has discussed commercial, financial and investment ties with Turkmenistan in Ashkhabad. The sides expressed readiness to support leading Arab companies in large joint projects, especially in the oil and gas sector, the Turkmen government reports.Turkmenistan has 54 companies with capital of the UAE, they realize projects worth $5.276 million and 5.1 million euros.
Dec 19 2014 - 18:35
The National Bank of Ukraine is investigating a theft of gold worth about $316,000 in the Odessa Oblast in November. The gold was allegedly replaced with lead. Alexander Pisaruk, deputy head of the bank, confirmed the theft of several kilograms of gold, RIA Novosti reports.
Dec 19 2014 - 18:03
Polish energy company PGNiG is negotiating reduction of gas purchases from Gazprom. The company sent a request for reconsideration of prices to Gazprom on November 5, 2014, within the framework of the Yamal Agreement signed on September 25, 1996. The document allows Poland to start arbitrary processes if the sides fail to reach a consensus within 6 months, TASS reports.
Dec 19 2014 - 17:35
Sochi Mayor Anatoly Pakhomov said that the city will soon start flights to Iran and China. He clarified that Chinese operators will visit Sochi on January 15 and open the Sochi-Beijing route on June 1, Interfax reports.Flights between Iran and Sochi will open on June 1.
Dec 18 2014 - 15:53
The European Investment Bank will grant Ukraine €1 billion within the framework of special measures worth €3 billion in 2014-2016, reports.Ukraine received the second tranche of EU financial aid worth €500 million in early December.
Dec 18 2014 - 15:40
UAE Minister for Energy Suhail Mohammed Faraj Al Mazroui said that the oil market will stabilize and the current prices will not stay for long. He added that new changes on the oil market will happen in early 2015. The minister urged countries to show responsibility and help balance the market, RIA Novosti reports.