IGC puts world wheat 4m tonnes higher

By FWi staff

THE production of world wheat has been forecast 4 million tonnes higher at 577 million tonnes.

Increases were seen from Argentina, Canada, China, Kazakhstan, Russia and the United States. A small decrease was seen from Algeria, noted the International Grains Council in its monthly report.

Although production has been put higher this month it is still below 1998s figure of 586 million tonnes.

World trade has been forecast down on the back of a number of minor alterations from several countries.

Trade is expected to be 1 million tonnes lower at 99 million tonnes. “The rise of 3 million from last year reflects higher import requirements mainly in Russia and Near east Asia,” said the IGC.

World consumption remains unchanged at 585 million tonnes, 4 million tonnes down on 1998.

“A decline in projected feed use in the United States is offset by small increases in total use in several other countries,” noted the IGC.

World stocks are estimated to be 5 million tonnes higher at 120 million tonnes.

Although some 8 million tonnes less than in 1998 stocks in the five main exporters are put at 56 million tonnes – about 10 million tonnes higher than the average for the 1990s.