Because of the drought, the EU will increase the import of wheat in the current season

03.10.2018

According to the European Commission, in the current marketing year the EU reduced compared to the corresponding period of the previous season, the export of wheat by 32%, from 5.7 to 3.9 million tons, but increased its imports by 24% (from 758 to 938 thousand tons.

Export of soft wheat in comparison with the previous MG was reduced as follows:

Saudi Arabia – by 49.5% to 465 thousand tons,

In Jordan by 25% to 152 thousand tons,

Ethiopia by 19% to 127 thousand tons.

In Egypt 31% to 504 thousand tons,

At the same time Algeria has increased the purchase of European wheat by 26% from 1.3 to 1.6 million tonnes, which now stands at 42% of total exports of soft wheat from the EU.

Russia for 3 months of the current marketing year increased compared to the same period last year, imports of wheat in EU in 5 times from 62 to 298 thousand tons, which is 32% of the total European imports of wheat.

In addition, the United States has increased imports of wheat in the EU by 14% to of 138.5 thousand tons, Serbia – 5.5 times until 149,8 thousand tons

The Intention of Algeria to increase its imports of Russian wheat will negatively affect the export of grain from France, which is considered a strategic supplier of wheat to Algeria, which will put pressure on prices for European wheat. Of intent to import 1 million MT of Russian wheat recently announced Libya.

Russia in the current marketing year increased compared with last season, exports of wheat by 35% to 12.2 million tonnes, a Slight slowdown in exports in September, due to falling prices, while will not be offset by increased demand for Russian wheat due to higher prices until 225-226 $/t FOB and the desire of traders to ship the purchased party before the moment when the export volume reaches a set for the current season limit of 25 million tonnes.


graintrade.com.ua
 

Readers choice: TOP-5 articles of the month by UkrAgroConsult