World rice consumption per capita rose in the pandemic and returned to the level of nine years ago. The permanence of isolated people in homes raised the consumption of this cereal to 54 kilos per year.
The volume of the product intended for human consumption is 429 million tons in the 2022/23 harvest, a record level. Cereal intended for animal feed is on the decline.
The data are from Amis, a market information system linked to FAO, released this Thursday (7).
The agency also showed that the volume of corn for human consumption has also been growing, reaching a record of 146 million tons, 18.40 kilos per capita.
The average consumption of wheat per person remains stable, since the product has undergone intense price readjustments in recent years.
Even so, human consumption remains high, reaching 535 million tons. The cereal destined for animal feed, due to the heavy costs in the composition of the ration, drops to 145 million in this harvest.
Product inventories, compared to consumption, indicate a tightening, which will require good harvests ahead for their recovery. On average, these inventories represent 29.7% of consumption, the lowest level in ten years.
When evaluating the crops of rice, corn, soybeans and wheat, Amis estimates a decline in wheat production in 2022/23, to 770 million tons. Corn production drops to 1.19 billion; and rice, to 520 million. Soybean, however, rises to 388 million tons.
With the exception of rice, food prices have risen sharply in the last 12 months on the international market. The lead was with the high of 42% of wheat, while corn and soybeans had readjustments of 26% and 17%, respectively. The price of rice fell 2% in the period.
In Brazil, Conab (National Supply Company) released this Thursday the estimate of the national grain harvest for 2021/22.
The volume stands at 272.5 million tons, 7% higher than last year, but below the initial forecast, which was at least 290 million.
The corn crop, thanks to the increase in production in the off-season, recovers and will reach a record 116 million tons. Soybean, on the other hand, drops to 124 million, 10% below the volume produced in the previous year.
The oilseed’s production potential was 145 million tons, but the crops were affected by a severe drought.
Recession In recent weeks, some commodities have dropped by up to 18% in international prices. High interest rates, recession and a new wave of Covid worry the sector.
Changes There are no major changes in the structure of the sector’s scenario, and a downward trend was already expected for products with good harvests.
Limited The assessment is made by Itaú BBA analysts, who believe that the space for very significant drops in prices is limited.
Rice The cereal continues with price recovery in recent weeks in Rio Grande do Sul. The bag, which 15 days ago was worth R$72, was this Thursday at R$75.4, according to Cepea.
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