Wandile Sihlobo
3 minute read
14 Jul 2021
5:52 am

Wheat production forecast: There is hope for food prices

Wandile Sihlobo

The IGC forecasts the 2021-22 global maize production at a new peak of 1.2 billion tons, up by 6% year-on-year.

Picture: iStock

The improved weather conditions in the US and parts of Europe, along with harvest pressure in South America, has led to a slight cooling of global grains and vegetable oil prices. Global food prices This is evident in the Food and Agriculture Organisation of the United Nations’ Global Food Price Index which fell by 3% in June from the previous month to 125 points; the first drop in 12 consecutive monthly increases. The decline in grains and oilseeds was a major driver of this development. With that said, the index is still 34% higher than the corresponding period last year....