In early March, the 8th international Fastmarkets Global Grain and Animal Feed Asia 2023 conference was held in Singapore. Food insecurity, climate change and soaring inflation dominate today’s headlines, and these are only a few of the challenges faced by agriculture market players. Fastmarkets Global Grain Asia provides a meeting point for grain traders to discuss the latest trends.
Separately, experts discussed the forage market in the South Asia and the Far East. It is these regions that, recently, have been the leading buyers of coarse grain and form its main commodity flows. Therefore, all the achievements and problems of the industry, as well as the influence of external factors, are most strongly manifested here.
«In the coming months the financial situation globally and especially in Asia is eхpected to remain rather unfavorable. 2023 is going to be a tough year. We can already see the continous volatility of freight markets and this trend will continue. Unresolved geopolitical problems lead to constant logistical disruptions, which is especially felt by traders, operating from the Black Sea region. Otherwise, the grain market (and coarse grain in particular) remains quite healthy. A large grain harvest is expected in russian federation and, as a consequence, wheat prices are falling, at the same time – corn market remains balanced. Also some experts mentioned another record harvest of grain in Australia can certainly be at-tributed to the positive aspects, due to the continuing impact of the La Niña phe-nomenon and heavy rainfall on the continent.There is no deficit on any of the positions yet»- Cezary Maciborski, Head of Trade Department, MK Merchants SA.