Black sea Grain
The UN’s food agency on Thursday cut its 2012/13 outlook for world wheat output to 675 mmt from an earlier forecast of 690 mmt last year, citing output falls in Ukraine, Kazakhstan, China, Morocco and the European Union.
World cereals output is expected to rise in the 2012/13 crop year by 1.1 percent to a record 2.371 billion tonnes boosting closely watched stocks by 1.7 percent to 524 mmt at the end of the 2012/13 seasons, the FAO said in its first forecast of new grain crops.
