25 May, 2017

World: Total grain production dramatically up in the new millennium but barley output is down

Historical comparison of grain and soybean crops shows the dramatic increase of production and consumption in the new millennium, H. M. Gauger GmbH said in their May report.

All grains output was 2.111 bln tonnes in 2016 versus 1.482 bln in 2001. This year it is forecast to increase to 2.054 bln tonnes. Wheat production was 581 mln tonnes in 2001, 753 mln last year and is expected to total 736 mln this year. Barley output, however, has not changed so dramatically: 144 mln tonnes in 2001, 144 mln tonnes in 2016 and forecast at 140 mln in 2017.

Digital farming, computerized machinery, steadily improving seeds and other inputs have increased world crops by one third since 2000 and surpassed consumption needs temporarily. According to the analysts, all grains consumption was 2.075 bln tonnes last year, 1.494 bln in 2001 and is forecast at 2.079 bln this year.

The resulting surplus stocks have pushed prices down to levels unseen since a long time. In spite of local problems - dryness and a late return of winter in the northern hemisphere - prospects are for another large world crop and the continuation of depressed grain and oilseed markets.

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