HIgh Grain Prices Promotes Production in 2013

By CnAgri2013-04-28 11:29:40 Print World grain price averaged $349/MT between July of 2012 and March of 2013, up 16% on the year-on-year basis. Wheat price averaged $345/MT between September of 2012 and March of 2013 and rice price $643/MT, up 6.8% and 3.09% respectively on the year-on-year basis.
 
World wheat acreage and production were 224 million hectares and 646 million MT in 2012, down 1.53% and 5.72% respectively on the year-on-year basis. Wheat acreage and production are predicted to be 226 million hectares and 689 million MT in 2013/2014, up 0.76% and 6.62% respectively on the year-on-year basis.
 
Corn acreage and production are estimated to be 177 million hectares and 898 million MT in the world in 2012/2013, up 4.11% but down 1.16% respectively on the year-on-year basis.
 
Paddy production is about 722.5 million MT in the world in 2012/2013, equal to 491 million MT rice (down 0.61% on the year-on-year basis). Paddy acreage and production are predicted to be 157 million hectares and 733 million MT in 2013/2014, down 0.70% but up 1.47% respectively on the year-on-year basis.
 
World grain inventory is estimated to be 557 million MT at the end of 2012/2013, suggesting a safety index of 24.6%. Specifically, wheat, corn and rice inventory may be 184 million MT, 296 million MT and 174 million MT respectively, suggesting a safety index of 27.16%, 34.34% and 33.7% respectively.

   

From “China Grains Market Weekly Report”