Browse Data and Analysis

The Government of Ecuador continues defining the yearly minimum price for local production of corn, rice, and wheat. The Minister of Agriculture supports the reduction of corn area and the shift to other crops that are mainly focused on the export market.

Post’s marketing year (MY) 2022/2023 rice harvested area and production forecast is 11.75 million hectares and 36.32 million metric tons (MT), respectively. Local prices of rice, wheat, and corn hit record highs in March 2022 and the Russian invasion of Ukraine has increased volatility. Post forecasts MY 2022/2023 wheat at 7.5 million MT and corn imports at 2.3 million MT.

FAS/Seoul projects Korea’s corn imports and consumption to increase in 2022/23 to support anticipated growth in animal inventories, following an expected decrease in corn imports in 2021/22 due to the war in Ukraine. Korean wheat consumption in 2022/23 is forecast to decline 15 percent due to reduced feed wheat supply.

High global commodity prices are expected to slow the growth of 2021/22 Indonesian wheat imports and lower the use of wheat in feed formulation.

Wheat consumption in the Dominican Republic (DR) during Marketing Year (MY) 2022/2023 (July 2022/ June 2023) is forecast at 451,000 metric tons (MT), virtually flat from MY 2021/22. Dominican imports are forecast at 610,000 MT, a 2 percent increase from the last MY, due to increased exports of Dominican wheat products and the adverse effects of international wheat process on local demand for wheat products.

Post forecasts marketing year (MY)2022/23 rice and corn production 2 percent higher than MY2021/22 figures, benefiting from sufficient water supplies and attractive farm-gate prices.

The Saudi Grains Organization (SAGO) projects domestic wheat production at 700,000 metric tons (MT) in MY 2021/2022, up approximately 17 percent from USDA’s official estimate of 600,000 MT. Experts anticipate local domestic wheat production could reach 1 million metric tons (MMT) in MY 2022/2023 to offset expected import delays from Russia and Ukraine as a result of the ongoing war.

Egypt is closely following the repercussions of the Russian-Ukrainian crisis. Certainly Egypt’s grains imports from both countries were affected. Accordingly, FAS Cairo forecasts Egypt’s wheat imports in MY 2022/23 (July – June) at 11 MMT, down by 8.3 percent from MY 2021/22 Post’s import estimate figure of 12 MMT.

In marketing year (MY) 2022/23, Colombia's corn and rice production are forecast to marginally decrease from the previous year as a result of lower crop productivity due to rising prices of fertilizers and potential supply disruption of these inputs.

FAS Manila forecasts Market Year (MY) 2022/23 milled rice production will reach 12.4 million metric tons (MT), flat with the previous year’s near-record high. The Philippine government’s support programs will help rice farmers partially offset rising input costs.

After exceptional consecutive production seasons of solid growth supported by relatively high commodity prices and favorable weather conditions, wheat and corn producers in South Africa are optimistically looking forward to the 2022 production season.

MY2022/23 corn production is forecast to decrease by approximately 16 percent to 5.9 million metric tons (MMT) due to drought conditions, fall armyworm infestations, and high fertilizer prices.