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FAS Manila maintains its September 2023 forecast for rice and corn production and imports, but lowers its forecast slightly for wheat imports to 6.0 million metric tons.

Post slightly lowers the MY 2023/24 rice production forecast due to some minor aman season crop damage caused by a cyclone. Despite the reduced production, Post lowers the rice import forecast to 500 thousand MT, as the Government of Bangladesh maintains its high rice import tariff of 62.5 percent.

No significant changes are made to 2023/24 rice and wheat supply and demand forecasts. Private sector wheat import commitments of about 1.4 million tons underpin the 2 million ton 2023/24 wheat import forecast.

Planting of India’s rabi season (i.e., winter sown, spring harvested) crops is progressing somewhat slower than anticipated due to relatively dry soil moisture conditions.

Extreme weather conditions across the EU reduced grain production projections in MY 2023/24, although production is still anticipated to exceed MY 2022/23 levels. EU grain export expectations have deteriorated based on third country competition in...

Economic slowdowns in Indonesia’s export destination countries negatively affected its imports and consumption of wheat. Wheat imports for 2022/23 are revised down to 9.446 million metric tons (MMT) from the previous estimate of 9.526 MMT, reflecting...

Rice import for MY 2023/24 is forecast to increase by 4 percent as flooding curbs domestic production and increases imports.

Spring planting in Bosnia and Herzegovina (BiH), which usually takes place in April, is expected to be less costly this year as diesel and fertilizer prices decreased slightly since last year. Corn in marketing year (MY) 2023/2024 is expected to be planted on 202,000 hectares (HA) with anticipated production of 900,000 metric tons (MT).

After a record setting winter crop in marketing year (MY) 2022/23, Australia is expected to produce a more subdued, but still strong grain crop in MY 2023/24.

Post estimates Argentine wheat production to rebound to 19.5 million metric tons (MMT) in marketing year (MY) 2023/24, resulting in wheat exports of 13.7 MMT (including wheat flour as its wheat equivalent).

Posts projects Paraguay’s wheat production for marketing year (MY) 2023/2024 to increase to 1.25 million metric tons (MMT), with exports rising to 410,000 MT.

In MY 2023/24, EU’s grain production is anticipated to reach 285 MMT, up from the 267 MMT registered the previous season, when a severe drought pushed yields down. Favorable initial crop development conditions are reported across the EU, although spring rains in the EU’s southwest will be critical to replenish soil moisture and allow for yields to bounce back to average levels.