The International Grains Conference is only weeks away!

The 2022 Conference will be held in a hybrid format on 7 & 8 June 2022 in central London. Featuring contributions from speakers in pre-recorded format and live, the event will focus on a number of key topics, including supply chain vulnerabilities, sustainability as well as related climate change mitigation policies, and will be centred around four main sessions.

Day two of the IGC event consists of:
09.30 - 10.30 Rice: Perspectives on logistical disruption to trade amid turbulence in container freight markets

• Global rice trade reached a record in 2021 (Jan/Dec) on a significant increase in demand from African and Asian buyers. However, exporters and importers faced substantial logistical challenges in completing orders due to disruption in shipping markets, with a widespread shortage of containers underpinning a surge in freight rates. Unlike other bulk-agricultural commodities, a significant portion of rice is shipped in containers in small volumes, notably high-valued speciality grades, such as fragrant and basmati rice. Furthermore, reports indicated that container shipping lines were reluctant to carry rice, with priority instead given to commercial goods, demand for which was robust.
• Consequently, buyers switched to shipping volumes on a bulk vessel, either alone or in unison with other importers, although this caused other issues, including related to warehouse space. The session will discuss logistical difficulties facing the international rice sector, highlighting ways in which traders adapted to disruption in the container market, as well as future prospects.

10.35 - 11.35 Maize: 2022/23 trade prospects, with a special focus on infrastructure and logistics in key exporters 

• Global grains and oilseeds supply chains, which proved resilient during the COVID-19 pandemic, are now being challenged by supply disruptions due to geopolitical tensions in the Black Sea region. Amid heightened concerns about a potentially protracted conflict and the impact on global trade, the focus is now firmly on capacity and logistics in other key exporters as importers look to other origins to meet requirements. 
• The workshop will discuss opportunities and challenges for the main exporters in addressing the shortfall in global maize market availabilities, with a particular emphasis on logistics and transportation costs against the backdrop of elevated fuel and commodity prices. The panel of experts will also assess infrastructure projects at key origins, aimed at increasing export capacity and ensuring the resilience of local and international supply chains. 

11.40 - 12.40 Wheat: What's in store for the disrupted market?

• The global wheat market has been roiled by the Black Sea conflict. The resulting disruption to trade flows from the region has fuelled worries about already tight exporter stocks and triggered a spike in global export prices which, coupled with elevated freight costs, contributed to increased food security threats in some regions.
• While Black Sea exports will ultimately be shaped by the duration of military action, significant downside risks for 2022/23 grain production in Ukraine stress the importance of harvests and availabilities in other key exporters. Aside from exportable surpluses outside the Black Sea region, the trade matrix for the year ahead will be shaped by logistical capacity at alternative origins, including in India and Australia. Price considerations will also be key as sustained high import costs could prompt further demand rationing. 
• This workshop will discuss global wheat supply and trade prospects in the face of potentially protracted Black Sea hostilities, focusing on deliveries to Near East Asia and Africa. The discussion will also cover possible export and import policy developments, which might influence global trade flows in the near-term.

13.40 - 14.40 Soyabeans: Domestic and international demand requirements – priorities among key global suppliers

• With growing populations and rising incomes boosting demand, global soybean utilisation has expanded strongly in the past decade, with traded volumes rising by about 80%. As a consequence, planting decisions in key producers have become ever more closely linked to prospects for international sales. While recent years have seen growth moderate, the Council expects trade to advance in future. But what about domestic requirements in the world's leading producers and exporters? Moreover, the countries of the US, Brazil and Argentina are home to sizeable feed sectors, while food and industrial segments are important in shaping local demand. 
• The workshop, featuring a panel of international experts, will assess prospects for domestic and global demand in future years, highlighting how existing and emerging trends will likely shape growth potential, while the role of policy will be discussed.

14.50 - 15.50 Rapeseed/Canola: Mitigating trade risks in a market that is heavily reliant on a small number of exporters.

• Global rapeseed/canola trade is forecast to fall markedly in 2021/22, reflecting the impact of a plunge in availabilities in Canada. With the shortfall in supplies resulting in a spike in international prices, importers have rationed demand. The situation comes in the face of a sizeable expansion of processing in major producers and exporters in recent years in response to growing demand for shipments of rapeseed/canola products. Furthermore, the EU has become increasingly reliant on the world market. More recently, the ongoing Black Sea conflict has added to uncertainties about future supplies of oilseeds and products more generally, especially given Ukraine's position as a dominant exporter of sunflower products. 
• This workshop will discuss the risks associated with markets where global shipments of oilseeds and products are concentrated in a small number of suppliers. A key theme will be to explore ways in which consumers mitigate risk and adapt to periods of excessive price volatility. Given what appears to be somewhat limited potential for growth in world rapeseed/canola production, and with supplies of sunflower products expected to remain tight for the foreseeable future, experts will assess the options available to consumers of oilseeds and products in food, feed and industrial sectors.

16.00 - 17.00 Pulses: Will Asia continue to drive world trade in the future?

• World pulses trade has expanded by 30% in the past ten years, with most regions contributing to the uptrend in demand. Nevertheless, Asia is by far the most important consuming region, with shipments typically accounting for more than half of traded volumes, shaped by increasing populations, rising incomes and evolving food consumption trends. Given the market's sheer size, changes in the policy backdrop can have a profound impact on global import demand: moreover, volumes fell sharply in 2018 after India – the world's biggest consumer – imposed restrictions on arrivals as a means of protecting the local market. Other key buyers in the region include Bangladesh, Pakistan, Turkey and China. 
• The workshop will discuss prospects for global trade in 2022 and beyond, highlighting existing and emerging trends that will likely shape volumes moving forward. Panellists will also touch upon potential risks, as well as the role of government policy.

For more information about the event visit the website, HERE. 

The Global Miller
This blog is maintained by The Global Miller staff and is supported by the magazine Milling and Grain
which is published by Perendale Publishers Limited.