Rome, 19 April 2023 (TDI): The latest report of the Agriculture Market Information System (AMIS) was published in April, 2023. It draws attention to pressing challenges posed by food price inflation.
The outlook is titled, “Market Monitor.” It covers international markets for maize, wheat, rice, and soybean. The outlook gives a synopsis of major market developments and the policy and other market dividers behind them.
The report also provides an analysis of the market situation and outlook by ten international organizations and entities that form AMIS Secretariat.
The table of content range from feature article to explanatory notes. The market at glance section compares previous forecasts and production of previous seasons of wheat, rice, maize and soybean crop.
According to the report, the grain and oilseed prices remain elevated in the net food developing countries due to currency depreciation.
Feature Article
The report features the article, “Renewal of the Black Seed Grain Initiative: Stakes and Challenges beyond May.” It also highlights the necessity of transparency in grains market and critical role of initiatives such as AMIS.
The Black Seed Grain Initiative has been instrumental in moderating world agriculture commodity and fertilizers prices.
The initiative has been a lifeline for Ukrainian farmers and consumers dependent on Ukrainian agriculture exports.
Russians claim that sanctions have adversely affected grain and fertilizers export and progress in the initialization of its exports will determine its future stance.
The Russian Federation and Ukraine, and the rest of the world need the grain deal. The initiative has had a stabilizing effect on prices, leading to significant decline in volatility.
Also read: Understanding interests & positions of Russia, Ukraine in ongoing war
Wheat Outlook
The greater demand from China and bigger foreseen sales from Australia and Kazakhstan in June/July(22/23) has raised the global forecast to 1.9 percent above the 21/22 level.
These positive market signals have increased the trade in wheat.
Rice Outlook
With a reduction to perspective imports by Bangladesh and a result of the rising imports from Indonesia, the trade in rice escalated partly in 2023.
Maize Outlook
In 22/23 (June/July) trade in maize is now declining by 3.0 percent from 21/22. As a result of lower export prospects from major producers such as Argentina and US trade in maize has declined.
Soybean Outlook
Soybean trade is marginally raised in 22/23 (Oct/Sep) due to imports from Argentina compensated for the declining demand from China and other countries.
