IGC CUTS WORLD WHEAT TRADE FORECAST FOR 2009/10

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01-05-2009

   The International Grains Council has raised its wheat trade forecast for 2008/09 (July-June) to a record 122.1 Mt as a result of increased exports from Black Sea suppliers to Egypt, Iran, Pakistan and Turkey. Consequently, the IGC now expects 2008/09 wheat exports to exceed the 2007/08 total by 12 Mt.
Next year, however, improved harvest prospects in countries such as Iran, Syria and Turkey is expected to lower wheat import needs. The IGC is running with an early forecast of 112 Mt for 2009/10, a 10 Mt decrease from this year’s projected total.