Total grain production in the crop year 2012/2013
fell by 3.5 per cent to 1.78 billion tons, while for the
crop year 2013/2014 the production is forecast to
grow by 7.4 per cent and take the total volume to
1.92 billion (International Grains Council, 2013). On
the demand side, global grain consumption dropped
by 1.7 per cent in 2012/2013 to 1.82 billion tons, but
is expected to recover and grow again by 3.6 per cent
in 2013/2014 to reach 1.88 billion tons. The significant
drop in global grain consumption is the first since 1995,
caused by high prices and their dampening effect on
ethanol production and livestock feed (Larsen, 2013).