Browse Data and Analysis

FAS Accra (Post) forecasts Ghana’s MY 2025/2026 (July-June) wheat imports at 1.0 million metric tons (MMT), up five percent from the MY 2024/2025 estimate of 950,000 MT.

FAS (Post) forecasts Venezuelan market year (MY) 2025/2026 corn production to reach 1.2 million metric tons (MMT), a 14 percent decrease year-on-year due to a significant drop in seed availability for the summer planting season.

Ghana in 2024 has experienced drought-induced crop failures and low yields in eight out of its 16 administrative regions. FAS Accra (Post) consequently is revising up Market Year (MY) 2024/2025 import figures for wheat, corn, and rice due to reports of crop failures in some regions of the country and increased consumption.

FAS estimates Venezuela corn production at 1.36 million metric tons for the new market year (MY) 2024/2025 on a planted area of 350,000 hectares. Significant economic uncertainty persists following the July 28, 2024, presidential election, and higher inflation and a scarcity of U.S. dollars will likely inhibit increased corn acreage and limit yields.

In market year (MY) 2024/2025, FAS (Post) forecasts Venezuela’s corn production to reach 1.36 million metric tons (MMT), 5 percent higher year-on-year due to favorable weather conditions. Production increases are likely to increase despite low international prices and limited financing that will likely discourage expanded planting area.

Imports of wheat and rice are forecast up in MY2024/25 mainly because of increased consumption. Corn and rice production is expected to increase due to favorable weather conditions, adoption of improved seed varieties, and the implementation of the second phase of the Government of Ghana’s (GOG) farmer support program.

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.

In Marketing Year (MY) 2023/24, Post forecasts increases in corn and rice production due to improved access to high-quality agricultural inputs and seeds in Venezuela. However, access to financing continues to be the primary constraint to a significant expansion of harvested area.

Venezuela's economic recovery continues, strengthening Venezuelans' purchasing power and consumption. As a result, in marketing year (MY) 2022/23 wheat consumption is revised up 4 percent compared to USDA's official forecast, while imports will increase to 1.3 million MT. The United States remains the largest supplier of hard red winter wheat to Venezuela.

As Venezuela’s economy continues to recover into MY 2022/23, Venezuela is expected to increase its consumption of wheat by 5.2 percent. With rising global prices of wheat, Venezuela may shift to more price competitive sources like Brazil and away from the United States for wheat grains.

Forecasts of below average rainfall and extended dry spells in most parts of the country by the Ghana Meteorological Agency, looming shortage and soaring global prices of fertilizer, and a further cutback on fertilizer subsidy rate are set to erode the grain production gains of GOG’s Planting for Food and Jobs program.

Grain and feed news is positive this year in Venezuela. The forecast for winter crops is favorable due to sufficient rainfall resulting in above average yields for corn and rice.