Authoritative agency F.O. Licht increased the forecast of grain production in the world in 2009/10 MY

In own November report, the authoritative agency F.O. Licht (Germany) again increased the forecast of the world production of three main grains (wheat, maize and barley) in 2009/10 MY. At the same time, according to Keith Flury, the leading grain expert of the agency, in the current season grain production volumes will not become a little lower compared to the level of 2008/09 MY.

According to the renewed estimations of the agency, in the current season, the world production of maize will total 778.5 mln tonnes, an increase of 2.3 mln tonnes compared to the previous forecast, due to the growth of maize production in the USA and South Africa.

In 2009/10 MY, the agency estimates wheat harvest at the level of 666.7 mln tonnes, due to the growth of estimated production volumes of the grain in India and the EU. The renewed forecast of F.O. Licht of barley production totals 147 mln tonnes, up 1 mln tonnes compared to the previous forecast. The agency increased own barley harvest data in France and the United Kingdom and increased the general forecast data.

You can become acquainted with the general data concerning the forecasts of development of the world market of grains in the second half of 2009/10 MY according to the data of F.O. Licht during the international conference “Grain of Russia – 2009”, where Keith Flury, the expert of the agency, will present the report “World market of grains in 2009/10 MY: tendencies and prospects of development in the second half of the season”.

The web-sites of organizers www.grun.ru, www.apk-inform.com provide the more detailed information concerning the Third International conference “Grain of Russia – 2009”.

Source: AgriMarket.Info