The IGC has improved its forecast for world flour trade in FY2024/25

Experts of the International Grains Council (IGC) increased the forecast of world trade in flour (in wheat equivalent) in 2024/25 MR by 1.6 million tons to 16.1 million tons, which will be inferior to last year's 16.8 million tons, which became the best indicator of the last 6 years, - reports the Union of Grain Exporters of the Russian Federation.

Despite the stable world demand for flour, trade volumes will decrease due to a decrease in imports by Middle Eastern countries, in particular Iraq, which, against the background of increasing its own production, will reduce flour supplies (mainly from Turkey) to a 10-year low of 1.5 million tons.

At the same time, for Afghanistan, a major world importer of flour, the import forecast has been increased by 1 million tons, which will exceed the 2023/24 MR indicator by 200,000 tons. This is due to increased imports from Kazakhstan and larger than previously expected flour supplies from Uzbekistan.

Flour import forecasts for African countries - Ethiopia, Somalia and Sudan - where the demand for Turkish flour has grown sharply in 2023/24 FY have also been increased. The total import of flour by the countries south of the Sahara will amount to 3 million tons, the IGC believes.

In 2024/25, Turkey and Kazakhstan will provide more than half of the world's flour exports. At the same time, Turkey will remain the largest exporter of flour, although it will reduce the volume of deliveries compared to last year from 6 to 5.8 million tons.