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Wheat production in the European Union (EU) will decrease. Due to this fear, the International Grains Council (IGC) has revised its global wheat production forecast for the 2024-25 season.
The IGC's monthly report said that global wheat production in the 2024-25 season could be 796 million tons; 2 million tons less than the previous forecast. At this time, 123 million tons of wheat may be produced in EU countries, compared to the previous forecast of 121.8 million tons. In the 2023-24 season, 133.1 million tons of wheat were produced in EU countries.
Industry-related people say that mainly due to adverse weather conditions such as heavy rain in large producing countries such as France and Germany, wheat production may decrease in EU countries. There is a fear that wheat production will decrease significantly in France. France's wheat production may drop to its lowest level this season in the last 40 years.
Meanwhile, while there is more rain in Europe, there is less rain in Australia. For this reason, the US Department of Agriculture (USDA) Foreign Agricultural Services (FAS) recently reduced Australia's wheat production forecast for the 2024-25 season by 3.5 million tons to 28.5 million tons. World Grain News
The IGC has also revised its global corn production forecast for the 2024-25 season. However, they have given good news in this regard. They said that even though wheat production will decrease, corn production may increase.
In the forecast, the IGC said that 1.225 billion tons of corn may be produced globally in the 2024-25 season, which is 1 million tons more than the previous forecast.
At that time, 91 million tons of corn may be produced in African countries, which was 86.8 million tons in the previous forecast. Despite this, corn production in Africa will decrease compared to the 2023-24 season, when the total corn production in the previous season was 93.8 million tons.
Meanwhile, the IGC has slightly reduced the forecast for US corn production. They say that 384.6 million tons of corn may be produced in the United States in the 2024-25 season. The previous forecast was 386.2 million tons.
At the same time, the forecast for soybean production in the 2024-25 season has been reduced by 2 million tons. The new forecast is that 419 million tons of soybeans will be produced in the next season. This forecast has been reduced mainly due to fears of a decrease in production in the United States.
After the start of the Russia-Ukraine war, the price of wheat in the world market has increased. As a result, the price of flour has increased. Bangladesh is no exception. In this reality, if wheat production in the world decreases in the next season, there is a risk that the price of flour will increase further.
Analysts say that global grain production is decreasing due to adverse weather conditions and natural disasters. It is feared that this will hurt global food security.
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