2024 Presents An Opportunity For Staple Food Supplies

1. 2024 Presents An Opportunity For Staple Food Supplies Farmers all over the world have planted more cereals and oilseeds as a result of high food prices in recent years, but consumers will likely face shortages well into 2024 due to unfavorable El Niño weather, export restrictions, and increased biofuel mandates. Tradologie.com is a user friendly SaaS based global trade hub and your streamlined solution for B2B agro-commodity procurement and sales. Connect with global bulk agro-commodity buyers or agro- commodity sellers, bypass middlemen for higher profits, and secure the best bulk prices effortlessly. Simplify your rice sales or procurement with Tradologie.com. After several years of strong gains, global wheat, corn, and soybean prices are expected to decline as a result of easing Black Sea bottlenecks and decreasing concerns about a worldwide recession. Nevertheless, prices are still susceptible to supply shocks and food inflation in the New Year, according to analysts and traders. El Niño Wheather Phenomenon El Niño conditions are predicted for at least April and May, Brazil is probably going to produce less corn, and China is shocking the market by purchasing bigger quantities of wheat and corn from overseas markets. It is predicted that the El Niño weather phenomenon, which caused drought in many areas of Asia this year, will persist in the first half of 2024, endangering supplies of wheat, rice, palm oil, and other agricultural products in some of the major agricultural exporters and importers in the world.

2. Due to the El Niño weather phenomenon, which reduced rice production and forced India—by far the world's largest exporter—to restrict shipments, the world's rice supply has already tightened this year. Agro-Commodity Situation Worldwide In 2023, rice prices surged to their highest level in 15 years, with quotations gaining between 40% and 45% in certain Asian export hubs, while other grain markets saw a decline in value. Lack of moisture is also threatening the next wheat crop in India, which may force the second- biggest wheat consumer in the world to turn to imports for the first time in six years as domestic stocks at state warehouses have fallen to the lowest in seven years. Australia, the second-largest wheat exporter in the world, may have farmers planting their crop in dry soils in April after months of extreme heat reduced yields for this year's crop and put an end to a three-dream run of record harvests. Larger quantities of wheat from other exporters in North America, Europe, and the Black Sea region are probably going to be sought after by buyers such as China and Indonesia. Although unpredictable weather in Brazil is casting some doubt, South American corn, wheat, and soybean production is predicted to increase in 2024. Rich rainfall across farming heartlands in Argentina is expected to increase soybean, corn, and wheat production in one of the world's biggest grain exporting countries. Rainfall throughout the country's Pampas region since the end of October has resulted in 95% of early planted corn and 75% of soybeans being in “excellent to very good” condition, according to Argentina's Rosario Grains Exchange (BCR). Brazil's agricultural output is expected to reach near-record levels in 2024, despite recent dry weather-related reductions in the country's estimates for corn and soybean production. Due to the dry El Niño weather, there will likely be less palm oil produced globally in 2023, which will help to support cooking oil prices, which fell by over 10% that year. The reduction in production coincides with increased demand anticipated for cooking oil and biodiesel derived from palm oil. If you are a sugar importer wishing to import sugar in bulk or a sugar exporter willing to export bulk sugar, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.