First intervention wheat for five years

By FWi staff

THE first major consignment of wheat for five years was offered for intervention yesterday, Government officials have confirmed.

About 2,000 tonnes of wheat will now undergo tests to see whether it meets minimum intervention standards. According to the Home-Grown Cereals Authority, the last time a significant amount of wheat was accepted into intervention was during the 1992/93 season.

UK feed wheat quality is usually too poor to be sold into intervention. But it appears that some traders feel the batch of better Group II varieties will be cleared for delivery.

Analysts say feed wheat is struggling buyers on the open market. Export opportunities are few and far between because of the strong Pound. And intervention is far more profitable at current market prices.

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