By FWi staff
WORLD wheat production has been forecast 2 million tonnes lower at 568 million tonnes, according to the International grains Council (IGC) monthly forecast.
Revisions include reductions for the former Soviet block, the USA and Syria, which in total is offset by higher figures for India, Tunisia and Australia, noted the IGC.
A number of countries have altered their predictions for world trade resulting in a 1 million tonne increase at 100m tonnes. This is 6m tonnes higher than in 1998/99.
Export availabilities in the major exporting countries should cover forecast export demand, but sales from those in Eastern Europe are expected to decline.
World consumption is not forecast to change from the previous year at 586m tonnes although demand for food use in developing countries will increase, but only modestly.
Feed use of wheat is likely to decline, mainly because of substantial availability of feed grains and oilseeds in the EU and the USA, said a spokesman from the IGC.
World stocks are forecast at 111m tonnes in 1999/2000, with a total carryover in the five major exporting countries of 51m tonnes – this would be the highest level since 1993.