Business Daily from THE HINDU group of publications
Wednesday, Apr 04, 2007
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Business Daily from THE HINDU group of publications Wednesday, Apr 04, 2007 ePaper |
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Agri-Biz & Commodities
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Foodgrains Coarse grains output may hit 1,033 m tonnes Our Bureau
Mumbai April 3 After two years of decline, global coarse grains output is likely to breach the 1,000-million-tonne mark this year and register a new high, while world wheat harvest is likely to rebound by close to 5 per cent, according to Food and Agriculture Organisation (FAO).In its first forecast for this year, FAO expected a growth of 4.8 per cent which will result in about 626 mt of wheat production, up from 598 mt of 2006. Large wheat outputs are forecast for North America and Europe as also a noteworthy recovery in European CIS. In Asia, the output is seen to remain close to last year's level.
Indian plantings
A reduction in China's production will likely be offset by an increase in India, where plantings increased sharply, largely in response to government policy to encourage foodgrains production, FAO pointed out in its report. Higher maize (corn) production in 2007 is seen pushing world coarse grains output which is forecast to grow by 5.6 per cent to 1,033 mt. While South American main crop corn plantings have expanded in response to rising US demand for bioethanol, in the US itself, maize planting is off to a good start in southern parts, and the strong demand in the country, largely for ethanol production, is expected to fuel a sharp 9 per cent increase in plantings. FAO tentatively sees global rice production increase by about 3 mt to 423 mt in 2007.
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