Global cereal production and trade forecast to fall to three-year lows

This month’s downgrade mainly concerns maize and, albeit by a smaller amount, wheat production.

FAO’s forecast for world cereal production in 2022 has been cut by 7.2 million tonnes this month and is now pegged at 2 756 tonnes, 2.0% (57 million tonnes) lower year-on-year. By comparison, world cereal production grew by an average of 56 million tonnes per year in the last three years. This month’s downgrade mainly concerns maize and, albeit by a smaller amount, wheat production.

Global coarse grain production in 2022 is pegged at 1 462 million tonnes following an almost 5-million-tonne cut to the forecast and is now seen to decline by 3.1% compared to the 2021 outturn. The recent reduction principally reflects lower maize harvest prospects in Ukraine, due to the impact of the war. Global wheat production in 2022 has been lowered by 2.7 million tonnes this month down to 781.2 million tonnes, nevertheless, it remains a record high. The month-on-month cutback almost entirely concerns Argentina, where prolonged dry weather conditions are impairing yields. Global rice production in 2022 remains forecast to fall 2.4% below the 2021 all-time record to an overall volume of 512.8 million tonnes (milled basis).

December 2, 2022/ FAO.
https://www.fao.org
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Malaysian market opens for Irish pigmeat exports

Ireland has secured access to export pigmeat to Malaysia.

The Minister for Agriculture, Food and the Marine, Charlie McConalogue, and Minister of State, Martin Heydon, announced that Ireland has secured access for the export of pigmeat to Malaysia. The opening of the market comes as a result of the Ministry's work in collaboration with the Embassy of Ireland in Kuala Lumpur, Bord Bia and other industry stakeholders.

Malaysia is a multi-ethnic country with a population of 33 million. There is a sizeable consumer market for pork, and imports account for around 6-7% of total pigmeat consumption. Per capita consumption of pork amounts to 17kg annually.

November 24, 2022/ Government of Ireland/ Ireland.
https://www.gov.ie
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The decrease in Spanish pork exports slows down

Although the decrease in Spanish pork exports outside the EU continued in the first nine months of the year, it has slowed down compared to the first half of the year.

From January to September of this year, Spain exported a total of 1,359,089 tonnes of meat and meat products outside the Europen Union, of which almost 90% were pork.

Exports of pork meat and products reached 1,211,178 t, which represents a 19% decrease compared to the same period last year, although this decrease is slowing down, which we can see by comparing the data from the first half of the year, in which the percent decrease compared to the same period in 2021 was -24%.

China remains the leading destination, but exports to this country have decreased by 53.4%, while exports to the Philippines (+61%), Japan (+57.4%), South Korea (+62.9%), and the United Kingdom (+49.9%) have increased.

Evolution of Spanish exports of pork and pork preparations to third countries in tons. Source: 333 based on CEXGAN data.

Evolution of Spanish exports of pork and pork preparations to third countries in tons. Source: 333 based on CEXGAN data.

November 28, 2022/ 333 Staff with data from CEXGAN.
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