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Post forecasts MY 2023/24 wheat production at 3.3 million metric tons (MMT) and barley production at 1.4 MMT, in line with the previous season as climatic conditions are similar.
The drought in Andalucía is anticipated to prevent further expansion of Spain’s cotton area in MY 2023/24. Irrigation water allocation will be critical for farmer’s planting decisions, and temperatures and pest incidence during the summer months will also determine final yields.
In 2022, Spain imported $2.1 billion worth of agricultural, seafood and forest products from the United States, up 27 percent compared to the previous year. After high rates of consumer price inflation in 2022, the latest European Union economic forecast shows Spain’s economic growth forecast at 1.4 percent in 2023 and 2.0 percent in 2024.
On February 28, the Algerian Inter-professional Office of Cereals (OAIC) launched a public call to register grain and pulse traders on its supplier shortlist.