Agriculture, Good for Business, Lithuania, Markets and Companies

Evaldas Pranckevicius, the head of the ministry's Program and Project Management and Analysis Division, said Lithuania's total agricultural production would be 3.2% higher this year, due largely to the cereal output growth. 

Figures from the Agricultural Information and Rural Business Center show an increase in average purchase prices for cereals and rapeseed in September. 

This shows that the Lithuanian grain market is part of the global market and its prices correlate with world prices, regardless of the ratio of supply and demand in the domestic market, Pranckevicius noted. 

The UN Food and Agriculture Organization (FAO) forecasts world cereal production at 2.8 billion tons this year, a rise of 2.2% from 2019. The EU's cereal output should total 282 million tons, 13.3% lower.