MarketsFarm — The U.S. Department of Agriculture’s (USDA) attaché in Madrid is projecting an increase in grain production for the European Union (EU) in 2023-24.
In USDA’s Global Agricultural Information Network (GAIN) report released Wednesday, the attaché pegged the EU’s 2023-24 grain production at 284.7 million tonnes, 17.9 million more than this year’s crop which was hampered by drought.
Initial crop conditions were deemed favourable across the EU, according to the report, while also noting that rains will be needed to replenish soil moisture in Portugal, Spain and western France. Russia’s invasion of Ukraine and rising food prices caused “a stagnation of grain demand” but the larger production will reduce imports by eight million tonnes, to 27.4 million.
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The total seeded area is slated to increase by 330,000 hectares to 51.4 million, while ending stocks in 2023-24 are projected to be 31.3 million tonnes, 1.5 million more than in 2022-23.
Wheat production in the EU is expected to rise 3.5 million tonnes to 137.8 million, largely in part due to higher production in France, Bulgaria, Hungary, Romania, Italy and Baltic nations.
Corn production will surge by 12.2 million tonnes to 64.4 million in 2023-24 despite a 170,000-hectare drop in area to 8.7 million. Barley production will also rise to 53 million tonnes in 2023-24 compared to the 51.5 million expected this year. Oat production will decline by 130,000 tonnes, to 7.5 million.
— Adam Peleshaty reports for MarketsFarm from Stonewall, Man.
