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MY 2022/23 has been overshadowed by the developments in Ukraine. However, high UK grain prices supported planting despite high input prices, especially for fertilizer and fuel.
Serbian grain exports were significantly affected by the Russia-Ukraine war in 2022 because 80 percent of Serbia’s grain exports travel to the world via Black Sea ports.
FAS/Ottawa forecasts total production of wheat, corn, barley, and oats to increase one percent in MY 2023/24 from the previous year, assuming yields return closer to historic averages and a six percent increase in wheat production offsets production declines in other crops.
Milled rice production for MY 2023/24 is projected at 1.2 million metric tons (MMT) an 11 percent increase from MY 2021/22. Post projects milled rice production for MY 2022/23 at 1.1 MMT, a 3 percent increase from MY 2021/22.
The Black Sea region is a significant supplier of agricultural commodities to the world. Over the past year, global grain and oilseed markets have been roiled by the ongoing military conflict in Ukraine.