June 9, 2008
Spain's feed makers expect grain stock to rise by 114 percent
Spanish animal feed makers said Friday (June 6, 2008) that carryover stocks of corn, wheat and barley for the 2007/08 would soar to 4.5 million tonnes from 2.1 million a year ago, up by 114 percent.
Feed makers group CESFAC said that the huge stock was a result of unsold grains of farmers and traders.
Spain's animal feed industry consumes about 12 million tonnes a year.
The huge stock will be used to offset a grain harvest which is predicted to fall this year after a winter-long drought, analysts said.
CESFAC estimated that the barley crop for the 2007/08 year would come in at 10.5 million tonnes, down from 11.6 million last year.