IGC cuts world wheat production, stocks forecast

by Emily Wilson
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World wheat stocks at the end of the 2000-01 season are forecast to stand at 104 million tonnes, 17.4% of total use, according to the latest forecast by the International Grains Council. The ending stocks figure is down 4 million tonnes from the September forecast.

In its latest Grain Market Report, the IGC put global 2000-01 wheat production at 579 million tonnes, compared with its September estimate of 581 million. World consumption now is forecast at 597 million tonnes against 595 million previously, while trade is estimated at 105 million tonnes versus 107 million in September.

The IGC also noted that world trade in wheat flour continued to reflect increased milling capacity in several importing countries and was estimated to have declined further in 1999-00 to around 8.3 million tonnes.