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

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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
 

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