Thursday, 30 September, 1999
By FWi staff
THE production of world wheat has been estimated 4 million tonnes higher than last month by the International Grains Council.
Production is forecast at 573m tonnes with revisions from Australia, Canada, Russia and Ukraine.
Despite this rise, reductions are predicted for Hungary, USA and north Africa, noted the IGC in its monthly report.
Consumption is forecast to rise 2m tonnes to 585m tonnes on the back of a greater use as feed in the EC.
Despite this rise in both output and consumption, trade is expected to remain unchanged at 100m tonnes.
World stocks will also remain unchanged, at 115m tonnes, on last month, although this would be a drop of 12m tonnes on 1998.
“However, those in the five major exporters, at 53m tonnes, would be the highest since 1992/93,” noted the IGC.