DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Supply Chain

Strategie Grains Raises EU Wheat Export Outlook On Brisk Demand

By Dayeeta Das
Share this article
Strategie Grains Raises EU Wheat Export Outlook On Brisk Demand

Consultancy Strategie Grains has increased its forecast of European Union soft wheat exports this season, saying it saw the EU benefiting from strong overseas demand at a time of reduced availability in some other export zones.

The French-based firm now expects EU exports of soft wheat, excluding durum, to reach 30.5 million tonnes in the 2019/20 season to 30 June, up from its previous projection of 28.7 million in December.

"The EU continues to benefit from strong global demand," it said in its monthly grain report published on Thursday. "The EU is really acting as the world's breadbasket this season."

More Room For EU Shipments

Despite increased wheat sales by Ukraine and Argentina this season, a levelling off in shipments from top exporter Russia and lower exports from the United States and Australia were leaving more room for EU shipments, Strategie Grains said.

Analysts had been expecting the EU to export more this season after a rebound in its wheat production, but a run of sales to countries including Egypt, China, and Iran have boosted prospects.

ADVERTISEMENT

However, traders say there could be a shift in the allocation of export demand if transport strikes in France continue and force companies to load shipments in other EU countries.

News by ReutersClick subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.