Malaysia's wheat imports jump 12% on year in August

10.10.2016

Malaysia imported 154,813 mt of unmilled wheat in August, up 12.1% from a year ago, according to data released Friday by the Department of Statistics.

Imports in August nearly doubled from July, and it is the second highest volume for 2016 so far since February's import at 157,160 mt.

Wheat imports from January to August amounted to 968,475 mt, the highest in six years, and were up 9.98% from the same period last year. The uptrend was attributed to cheaper wheat amid falling international prices.

The US Chicago Board of Trade's September wheat futures fell to the lowest in a decade, at 369.50 cents/bushel on August 29, amid ample global supply and regulatory changes in Eygpt -- the world's largest wheat importer.

Australian wheat typically accounts for about 60% of Malaysia's imports for food usage, the rest coming mostly from the US and Canada.

On Friday, Platts assessed Australian Premium White at $200/mt FOB Western Australia, up $1 from Thursday.


platts

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