Global Agricultural Information Network Report
The following Global Agricultural Information Network (GAIN) reports were released on Tuesday, April 11, 2017.
Brazil: Cotton and Products Annual
Post forecasts cotton planted area for 2017/18 to increase to one million hectares based on higher prices and domestic demand. Production for 2017/18 is forecast at seven million bales (1.52 million metric tons). For Marketing Year 2017/18, post forecasts consumption to increase to 3.44 million bales (750,000 MT) as a result of an expected economic recovery and higher consumer confidence, which should lead to increased textile sales. Post forecasts cotton exports to increase to 3.2 million bales for the MY 2017/18 as a result of higher exportable supplies.
Brazil: Grain and Feed Annual
Record corn production at 93 million metric tons (mmt) and low commodity prices will increase corn stocks in 2017/2018 and could encourage government intervention. 2017/2018 wheat production is down on low prices, while 2017/2018 rice production is higher on increased area.
Malaysia: Oilseeds and Products Annual
Palm oil production is expected to increase from 17.7 million tons in 2015/16 to 19.4 million tons in 2016/17 and to 21 million tons in 2017/18 due to palm trees recovering from tree stress due to prolonged dry season from the El Nino weather anomaly recorded throughout 2015/16. Conducive weather patterns are expected in 2016/17, which will see increased production of Fresh Fruit Bunches (FFB). The use of high yield seedlings introduced in 2010 onwards improved yields although there has been less expansion in planted area. Exports of U.S soybeans are expected to increase to 250,000 tons in 2016/2017 and to 300,000 tons in 2017/18. The increase is in line with projected increase in poultry consumption.
Nigeria: Grain and Feed Annual
Post's combined estimates of Nigeria's MY2017/18 production for wheat, rice, corn and sorghum is set at about 16.3 million tons, representing a slight drop from the current MY2016/17 estimate of nearly 16.5 million tons. Overall MY2017/18 imports will likely decline by nearly three percent to 6.6 million tons from 6.8 million tons in MY2016/17. MY2017/18 exports are noted at 850,000 tons, an increase of more than 21 percent over that of MY2016/17 due to growing demand in neighboring landlocked countries. Limited GON support to farmers over recent years, rising cost of farming inputs and insecurity are limiting private efforts at increasing agricultural productivity. Additionally, unfavorable foreign exchange measures and weakening purchasing power combined are causing declines of local consumption and imports of food and agricultural imports. After USDA’s year-long efforts, its Export Credit Guarantee Program (GSM-102) has increased U.S. wheat sales to Nigeria of 216,000 tons (valued at $50 million) at the date of this report.
South Africa: Oilseeds and Products Annual
Post forecasts that a record area of 1.4 million hectares will be planted with oilseeds in South Africa in the 2017/18 MY. This is on the back of an expected record oilseed crop of 2.1 million tons in the 2016/17 MY, an increase of 42 percent from the 2015/16 MY drought reduced oilseed crop of 1.5 million tons. South Africa will crush record highs of almost 2.0 million tons of oilseeds in the 2016/17 MY and 2017/18 MY. As a result, imports of oilseed meal will drop to about 570,000 tons or 35 percent of local consumption in the 2017/18 MY, while the imports of soybean oil and sunflower seed oil will drop to 290,000 tons.
Source: USDA
