BAKU, Azerbaijan, September 6
Trend:
Global wheat output has fallen, according to the United States Department of Agriculture (USDA), Trend reports.
The report said that US grain producers have had one of their worst seasons in 2019 due to low margins, with a number of companies that previously relied on state support going bankrupt as well as a price drop.
Wheat output has also fallen, according to the USDA. Wildfires in Australia have damaged crops and the USDA expects its wheat exports to drop 17 percent year on year in the 2021-22 season.
The UN calculates that the world will need to produce an extra 40 percent more food by 2050 simply to keep pace with a world population that is expected to rise by 2bn people over the next 30 years.