IGC: world grain stocks grow
Globally, we produce more grains than we consume. This means that the current world grains stocks are growing to the largest volume in the last five years.
This is according to the latest harvest forecast figures from the International Grains Council (IGC). IGC predicts that the world grain production in 2014/2015 will reach 1,937 million tonnes against a global grain consumption of 1,935 million tonne. This means the grain supplies grow to 398 million tonnes at the end of the season.
Only in the 2009/2010 season, the global grain supply was higher with 401 million tonnes. According to IGC, the increased stock is the result of a higher than expected maize harvest in the EU, Brazil, Mexico and Russia. For next season, the figures are down. The global production of grains will then reach 955 million tonnes, against a grain demand of 947 million tonnes.
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