Increases the IGC forecast world wheat production next season
Analysts International Grains Council IGC in its new report increased the forecast of world wheat production in the season 2016/17 MG 4.2 million tons to the level 717,2 million tons that will still be inferior to the previous season, when it was raised to 734.3 million tons of wheat. Forecast increased due to favorable weather conditions, which are observed in the countries of the European Union and Russia.
Relative to the previous report in the new balance increased the forecast of wheat production:
- for EU countries by 1.1 million tons to 152,1 million tone against 159,3 million tone of season 15/16 MG,
- to Russia by 1 million tons to 59 million tons versus 61 million tons of season 15/16,
- to China 5 million tons to 127,4 million tons against 130,2 million tons last year.
For EU countries, the forecast of future crops increased at the expense of France, Germany and the UK.
However, a reduced estimate of wheat production for the following countries:
- the USA 1.1 million tons to 52.8 million tons against last year's 55.8 million tone,
- the Turkey by 0.4 million tons to 20.4 million tons against 22.6 million tone of season 15/16,
- the of Pakistan by 0.4 million tons to 25.5 million tons, equivalent to last year's figure,
- the Morocco 0.7 million tons to 3.8 million tons to 8.1 million tone of season 15/16.
the Volume of world trade in wheat in the new season is projected at $ 153,3 million tone against tone 154.1 million last season.