The International Grains Council has released its forecasts for 2022/2023 production levels, stating an increase due to a higher-than-anticipated yield from Ukraine. The global wheat crop levels currently sit at 796 million tonnes, up from last season's 781 million.
Ukraine's total production was seen at 25.2 million tonnes, up from the previous 21.5 million forecast but below last season's 33 million tonne crop.
New Zealand grows an average of 400,000 tonnes of wheat each year, but most of it is used in animal feed. Last season, 100,000 tonnes of milling wheat and 250,000 tonnes of feed wheat was grown. Almost all of New Zealand’s wheat is grown in the South Island. However, 70 percent of flour production wheat is imported from Australia.
The International Grains Council has also reported an increase in soybean, dry peas and other pulses, while rice and maize are seeing a slight decrease.
