According to the FAO forecast, global grain consumption in the new season will be a record

In the new report, FAO experts lowered their forecast for global grain consumption in 2021/22 MG by 1.7 million tons to 2,809 million tons, which is still 1.4% or 40.1 million tons higher than in 2020/21 mg and will be a new record.

The forecast for wheat consumption was lowered by 2.2 million tons to 777 million tons, which is 2.4% or 18.5 million tons higher than in my 2020/21. The forecast for wheat consumption for feed has been lowered due to lower supply and higher prices for wheat, which worsens its competitiveness in comparison with corn.

However, the expected increase in feed consumption in my 2020/21 remains the main factor determining the increase in total wheat consumption compared to last year. The total consumption of feed grain in 2020/21 MG may reach a record 1,511 million tons, which almost corresponds to the July forecast, but is 0.9% or 13.9 million tons higher than the forecast level of 2020/21 MG. This is primarily due to the projected increase in corn consumption in 2020/21 MG, especially for feed and in the form of industrial raw materials, as well as a slight increase in sorghum consumption.

At the same time, it is expected that in 2020/21 MG the consumption of barley for feed and in the form of industrial raw materials will decrease due to a reduction in production volumes.