IGC has sharply reduced the forecast of world wheat production

2018-07-27 12:14:12
IGC has sharply reduced the forecast of world wheat production

the Latest trends have forced experts of the International Grains Council (CIG) to reduce the estimate of world wheat production in 2018/19 Mr with the predicted in early July 721 million tonnes to 705 million tonnes, which is 37 million tons less than in season 2017/18.

 

So, the forecast of wheat production by EU countries decreased by 7.4 million tonnes to 139,9 million tonnes due to the reduction in harvest in Germany, France, Poland and the UK.

 

For the Russian crop estimate reduced by 4.9 million tons to 66 million tons.

 

the Forecast of world wheat trade would be reduced by 1 million tons to 176 million tons.

 

the Forecast of world consumption of wheat in 2018/19 Mr reduced by 4 million tons to 739 million tonnes, 3 million tonnes higher than the figure recorded the previous season.

 

In comparison with the previous report, the estimate of world ending stocks of the 2018/19 season has reduced by 9 million tonnes to 247 million tonnes, 18 million tonnes less than the final inventory of the season 2017/18.

 

the estimate for ending stocks for major producing countries was reduced by 7 million tonnes to 63 million tonnes, 19 million tonnes will yield the level of reserves 2017/18 MG.