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Crop Prospects and Food Situation - No.4 October 2008

Year of publication 2008

Pages 40

Author Trade and Markets Division

Product type Book (stand-alone)

Edition 1

Synopsis (short abstract) World cereal production in 2008 is forecast to increase 4.9 percent to a record 2 232 million tonnes, considerably up from earlier predictions after better than expected results from the major harvests gathered in the past two months. Based on the latest production forecast, a significant improvement in the global supply and demand balance for cereals in the 2008/09 season can be expected. Even allowing for a larger increase in utilization than was reported in July, an 8 percent increase i n world cereal stocks could be possible. International prices of most cereals have continued to fall in the past two months, largely in response to favourable prospects for 2008 harvests and thus an improvement in the supply outlook for 2008/09, but also reflecting the influence of falling crude oil prices and financial turmoil in world economies...

Language English

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    As the year draws to a close, FAOs latest estimates confirm that a new record high level of global cereal production was achieved in 2008, sufficient to cover the expected increase in utilization in 2008/09 and also allow for a moderate replenishment of world reserves. Most of the increase in production this year has been among the developed countries, with that in the developing countries rising just marginally. In the developing group, outputs rose somewhat more among the Low-Income Food- Deficit Countries, especially in countries where agriculture production support was provided by governments...
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