Changes in supply and demand of major agricultural products in international markets
Source: Department of Market and Economic Information, Ministry of Agriculture
according to the monitoring of the Ministry of Agriculture, the Food and Agriculture Organization (FAO), the International Grain Council (IGC), the United States Department of Agriculture (USDA) and other agencies have made the latest forecast of global agricultural supply and demand in 2012/13 (Table 3). The main changes are as follows:
grain: FAO forecasts global production of 2.306 billion tons in 2012/13 and is expected to reduce production by 46 million tons. Consumption was 2.33 billion tons, with an ending stock of 0.499 billion tons, with a stock consumption ratio of 21.4 per cent. USDA forecasts global output of 2.247 billion tons in 2012/13, with an expected reduction of 70 million tons. Consumption is 2.286 billion tons, ending inventory is 0.427 billion tons, and inventory consumption ratio is 18.7.
Wheat: FAO, the International Grains Council and the United States Department of Agriculture forecast global production of 0.655 billion -0.662 billion tons in 2012/13, with an expected reduction of 38 million -42 million tons. Consumption 0.674 billion -0.683 billion tons, ending stock 0.163 billion -0.178 billion tons.
Coarse grain: FAO, the International Grains Council and the United States Department of Agriculture forecast global production of 1.123 billion -1.156 billion tons in 2012/13, with an expected reduction of 12 million -31 million tons. Consumption 1.142 billion -1.17 billion tons, ending stock 0.146 billion -0.165 billion tons.
For corn, the International Grain Council predicts a global output of 0.85 billion tons in 2012/13, with an expected reduction of 27 million tons. Consumption 0.867 billion tons, ending stock 0.114 billion tons. USDA forecast output of 0.854 billion tons, is expected to reduce production of 29 million tons; consumption of 0.868 billion tons, the final inventory of 0.117 billion tons.
Rice: FAO, International Grains Council and USDA forecast global output of 0.466 billion -0.489 billion tons in 2012/13, with an expected increase of 2 million -5 million tons. Consumption is 0.468 billion -0.477 billion tons, and final inventory is 0.102 billion -0.172 billion tons.
Soybean: USDA forecasts output of 0.268 billion tons in 2012/13, with an expected increase of 29 million tons. Consumption 0.261 billion tons, ending stock 60.21 million tons.
Cotton: The International Cotton Advisory Committee (ICAC) forecasts a production of 26.256 million tons in 2012/13, with an expected production reduction of 1.188 million tons. Consumption was 23.31 million tons and final inventory was 16.999 million tons. USDA forecasts 26.1 million tons of output in 2012/13, with an expected reduction of 930000 tons. Consumption is 23.32 million tons and final inventory is 17.8 million tons.