Crop Prospects and Food Situation #1, February 2008

Year of publication2008

AuthorFAO

PublisherFAO

AbstractEarly prospects point to the possibility of a significant increase in world cereal production in 2008, mainly following expansion of winter grain plantings in Europe and the United States coupled with generally satisfactory weather conditions. International prices of most cereals remain high and some are still on the increase. Continuing strong demand and dwindling stocks are providing the backdrop to a prevailing tight global cereal supply and demand situation in the current 2007/08 marketing season, keeping upward pressure on international markets. Cereal imports of the LIFDCs as a group in 2007/08 are forecast to decline by about 2 percent but as a result of soaring international cereal prices and freight rates, the cereal import bill is projected to rise by 35 percent for the second consecutive year. A higher increase is projected for Africa. Prices of basic food have increased in many countries across the world mostly affecting vulnerable populations. The aggregate level of world trade in cereals is expected to peak in 2007/08, driven mainly by a sharp rise in demand for coarse grains, especially for feed use in the EU.

 

Product typeBook (stand-alone)

SeriesCrop Prospects and Food Situation

RegionGlobal

ISSN2707-2231

Areas of workGlobal Information and Early Warning System

KeywordsFood security; food chains; food production; food shortages; food stocks; food supply; markets; commodity markets; production statistics; trade statistics; monitoring; resource evaluation