Production of corn in the world will be 1.05 billion tons
Production of corn in the world in the current MY will reach a level of 1.05 billion tons, which exceeds the forecast for November by 14 million tons.
Such data was provided by the International Grains Council.
In addition, compared to the last MY, the world’s corn production this year is 34 million tons less. In 2016/17 MY, 1.088 billion tons of corn were produced.
Turnover of corn in the international market in the current MY will reach the level of 147 million tons, which is 9 million tons more than in the previous year.
Also, the forecasted consumption of corn in 2017/18 MY is increased by 1 million ton and is now 1.068 billion tons. This indicator exceeds the indicator of the last MY by 21 million tons.
It should be recalled that since the beginning of the current MY, 22.39 million tons of grain have been exported from Ukraine, which is 2.59 million tons less than last year.
World corn production continues to show strong growth and is expected to reach an impressive 1.05 billion tonnes. This forecast is the result of the efforts of agricultural producers and factors influencing the development of this crop.
Corn is one of the most important grain crops used in the food, feed and industrial sectors. High yields and adaptability to various climatic conditions make corn the preferred choice for agriculture in many countries.
One of the factors contributing to the growth of corn production is the constant improvement of agricultural technologies. The introduction of modern tillage methods, the use of genetically modified varieties and the optimization of irrigation systems allow increasing yields and ensuring stable production of corn.
In addition, the growing demand for corn in various industries, including food processing, feed production and biofuels, contributes to the expansion of its production.