The European Union could cut exports of wheat by 30%
According to the forecast of French Agency Agritel, the gross harvest of wheat in 2016 in the EU will amount to 143 million tonnes, which is 11% less than last year. Consequently, European wheat exports to third countries in the season 2016/17 MG may fall relative to the previous season by more than 30 per cent to 24 million tons.
Ambiguous is the situation with the wheat production in the EU. Except France, where the harvest will drop by 30%, a record production decrease of 7% expects other major wheat producers – Germany and Poland. However, you will be able to increase the production of wheat Spain 25%, Italy 10% and Romania at 9%.
At the same time, because of the substantial reduction in the European wheat index ending stocks will return to medium seasonal values. Ending stocks in season 2016/17 MG may reach 12.8 million tons, whereas in season 2015/16 they were much larger and amounted to 15.7 million.