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According to FAO’s latest forecast world cereal production in 2011 is expected to be more than sufficient to cover anticipated utilization in 2011/12. Production is expected to reach 2 327 million tonnes – up 4.6 million tonnes from the last estimate in December. That would be 3.6 percent more than in 2010 and a new record.
Cereal utilization in 2011/12 was lowered slightly from December, to nearly 2 309 million tonnes, but still 1.8 percent higher than in 2010/11. That would put cereal ending stocks by the close of seasons in 2012 at 516 million tones, 5 million tonnes up on FAO’s last forecast.
Thursday February 9, 2012/ FAO.
http://www.fao.org