Global scenario

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Wheat harvester

Presently the world food production is comfortable in spite of the weak economic growth conditions in the advanced economies of Europe and their cascading effects on the other fragile dependent economies.

When compared to 2017–18, there is an expected significant shortfall in wheat production in 2018–19. However the carryover stocks are adequate to meet the requirements. The year 2016–17 saw a record wheat production.

The Food and Agricultural Organization of the United Nations (FAO) forecasts "from a global perspective, food commodity markets in 2019/20 should continue to be generally well supplied, with international prices remaining below their recent peaks. However, a fast changing trade environment along with the outbreaks of important animal and plant diseases could pose challenges for global market stability."

"FAO assesses that globally 42 countries, of which 32 are in Africa, continue to be in need of external assistance for food. Conflict‑driven crises are the main cause of the high levels of severe food insecurity. Additionally, agricultural droughts and floods have sharply reduced harvests and contributed to abrupt spikes in food prices significantly aggravating food insecurity."

Though the production of coarse grains including maize is expected to increase, the prices may also firm up due to increasing demand from the feed production sector. The production of pulses and oil seeds and oils is also expected to increase and the price situation may be moderate. Due to volatility in exchange rates, countries importing or exporting the food produce may have vagaries in net amount paid or realized.

In the coming years agricultural trade will play a larger role in catering to the food needs of developing nations. Agricultural exports will bring in larger proportions of foreign exchange for these nations. The projections on climate change mitigation, forecast appreciable increase in carbon sequestration by agricultural soils due to improved agricultural practices.
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