13 June 2025

Meeting of the International Grains Council

Members of the International Grains Council (IGC) convened for the 62nd Council Session on 12 June 2025. The meeting was chaired by Mr. Hamed Oussama Salhi, First Secretary (Agriculture), Embassy of Algeria in London.

World grains production was predicted to expand by solidly in 2025/26, by 3% y/y, to a record of 2,375m t, with increases in the EU, Argentina and the US, while much of the gain would be due to improved maize crops. Global uptake was seen advancing to a fresh peak on expanded use in feed, food and industrial sectors, while carryovers were likely to edge up after the drawdowns of recent years. Traded volumes were projected to increase by 2%, to 428m t, chiefly on larger wheat flows.

Boosted by larger South American crops, world soyabean production was seen rising by 2% y/y in 2025/26, to a high of 428m t, while stronger demand for soya products across all end use sectors was set to underpin record processing. Although shipments to China were expected to be little-changed y/y, larger deliveries to other destinations in Asia, as well as to Africa, were predicted to support expanded trade, pegged at 183m t (+1%).

Global rice production was anticipated to expand further in 2025/26, to a new peak, including gains in China and the major exporters. With total consumption seen advancing on food demand, aggregate stocks were forecast to edge up (+1m), including major exporters’ reserves well above 50m t. Trade in 2026 (Jan/Dec) was projected to register a 2% y/y gain, bolstered by the import requirements of buyers in Africa and Asia.

Global trade in all pulses in 2025 (Jan/Dec) was forecast to fall for a second successive year, to 20.3m t, the 7% y/y contraction chiefly associated with softer demand for dry peas and lentils.

In the context of favourable prospects for global trade, Council members, together with representatives from Argentina, Australia, IGTC and WTO, held a discussion about non-tariff barriers and their impact. Members recommended to the Secretariat that efforts should be made to facilitate dialogue between delegations on Sanitary and Phytosanitary issues.

The Council renewed the Grains Trade Convention for a further two years until 30 June 2027. This was based on the increased level of expertise developed by the Secretariat on grains, oilseeds, rice and pulses market monitoring, the analyses of logistics as well as the provision of support to members in understanding the global market. In this framework and with the support of the delegation of Algeria, IGC developed a dashboard for countries to monitor trade and food security.

The Secretariat updated members on the launch of a working group aimed at developing a harmonised definition for japonica rice. The enhanced monitoring of the japonica rice market was essential in facilitating improved analysis, particularly in the area of market volatility given limited options for substitution. The objective is to submit a proposal to the World Customs Organisation in 2028, to coincide with a broader review of the harmonisation of commodity descriptions and the system of coding.

The IGC and India Middle East Agri Alliance (IMEAA) signed a Memorandum of Understanding in order to share more information on trade between South Asia and the Middle East, as well as to promote market transparency for the benefit of small- and medium-sized companies and farmers’ producer organisations in these regions.

The Council commended the work of the Algerian Chairmanship and initiatives taken under its mandate, particularly:

- Elaborating a dashboard on trade monitoring and food security;
- Reaching out to potential new members to join the organization;
- Cooperating with the International Civil Service Commission (ICSC);
- Promoting the Council's visibility;
- Launching the Arabic version of the Grains Market report;
- Proposing budgetary controls;
- Establishing a protocol for handing over the IGC Chairmanship.

Members approved the Programme of Work in 2025/26. Markets for grains, oilseeds, rice and pulses continued to face myriad challenges, underscoring the need for the Secretariat to continue to add value to its monitoring and analytical activities. A comprehensive five-year supply & demand outlook (2025/26 to 2029/30) for wheat, maize, soyabeans and rice will be presented to the Council at its January 2026 Council session.

The IGC’s core publications comprise the Daily Monitor, the weekly Grain Market Indicators (GMI), the monthly Grain Market Report (GMR) and, more recently (February 2024), the IGC Grains and Oilseeds Maritime Shipping Dashboard.

The Council appointed Dr Amy Little, Counsellor (Agriculture), Australian High Commission to the United Kingdom as Chairperson for 2025/26, while Mr. Kotaro Higuma, Counsellor, Embassy of Japan in the UK was appointed Vice-Chairperson for 2025/26.

The Council welcomed the participation of observers from Brazil, Ethiopia, Guatemala, Taipei (Chinese) Separate Customs Territory, Zambia as well as representatives from FAO-AMIS, OECD, WTO, ICSC, IGTC, IMEAA and MED-Amin.

The 34th IGC Grains Conference, titled “New Horizons: Charting the future direction of global trade was held in London on 10-11 June 2025, hosted the “Third high-level dialogue between producing and importing countries” and focused on the role of trade in improving food security and the importance of having a transparent trade system to support national food security strategies. Other key topics addressed were digitisation in the grains value chain, logistics and ports efficiency in global grain trade, sustainability and how to ensure biodiversity in the grains trade as well as two regional snapshots on the Middle East and Africa. Additionally, commodity workshops were staged, covering topics pertinent to markets for wheat, maize, soyabeans and pulses.