Browse Data and Analysis

FAS (Post) revises Venezuela corn and rice production higher for market year (MY) 2023/2024 due to improved access to higher-quality agricultural inputs and seeds, and favorable weather conditions.

Owing to improved weather conditions, Turkey’s grain production in marketing year (MY) 2023/24 is forecast to reach a record 36.0 million metric tons (MMT).

In the first half of 2023, the Vietnam livestock and aquaculture industry faced numerous challenges which reduced feed demand including escalating input costs, African Swine Fever (ASF), market price volatility, weak demand, and intense competition from imported products.

Post forecasts China's MY2023/24 grain feed and residual use to increase slightly and corn production also slightly higher due to a larger planted area and improved yields.

Post estimates marketing year (MY) 2023/24 wheat consumption to decrease to 4.5 million metric tons (MMT) or 10 percent from USDA's official estimate.

FAS/Tokyo estimates lower MY2023/24 rice production in Japan as extremely high temperatures and little rain are expected to lower yield and quality.

Post maintains its estimate of Algeria’s wheat plated area at just over 2 million hectares for the entire country. For the MY 2024/25, Post projects production for wheat and barley to remain in line with the current MY of 2.7 million MT of wheat and 1.02 million MT of barley.

Based on the export pace through the first 10 months of the year, the 2022/23 rice export estimate is reduced from 3.7 to 3.4 million tons.

Corn, rice, and sorghum production forecasts for marketing year (MY) 2023/2024 are increased, while wheat production is forecast lower based on less planted area.

FAS Manila expects rice imports to decline to 3.5 million MT as high prices in the international market and price ceilings ordered by the President disincentivize imports.

In response to wheat prices that have surged in recent months and to build stocks, the Government of Morocco introduced a support program for the import of 2.5 million MT of common wheat.

Post lowered MY2023/24 rice production estimate to 19.6 MMT due to water supply concerns.