Grain stocks at lowest level for 25 years

WORLD grain stocks are at their lowest for 25 years with supply now lagging behind ever increasing demand, the Teagasc national tillage conference was told in Carlow yesterday.

Minister of State Brendan Smith said the situation has been brought about by unfavourable climatic conditions in the major grain producing areas, coupled with an ever increasing demand within the biofuel industry and an increased demand from developing countries.

Mr Smith said cereal production in Ireland in the last year was estimated at 2.17m tonnes, slightly above the long-term average of 2m tonnes.