Food security: spring 2022

UkrAgroConsult

Article author:

Maryna Marynych

Grain Market Analyst

The food security this year is of special attention due to 2022 wheat production pessimistic forecasts and russia’s military actions in Ukraine.

USDA May 2022: The world’s wheat harvest will be lower than consumption for the second consecutive year. To avoid hunger, major wheat exporters will have to increase their exports, despite the sometimes bleak prospects for future harvests. Many countries have also decided to step up protectionist measures.

Thus, in 2022/23 MY USDA expects to increase wheat exports from Canada, the EU, India and russia. Canada and russia are expected to see significant crop growth. In the EU and India, wheat production should be reduced compared to the previous season, UkrAgroConsult reports.

On May 13, India restricted wheat exports, and world prices switched to strengthening again.

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Tags: Ukraine, Russia, EU, Canada, wheat, India, food safety, crop forecast