June 2, 2015
Forecast for world wheat production raised from Apr, council says
The International Grains Council (IGC) on May 28 projected 2015-16 world wheat production at 715 million tonnes, up 10 million tonnes from its April projection but down from the 2014-15 record of 721 million tonnes.
Forecasts for wheat production in the European Union, the Commonwealth of Independent States, China and Morocco have been raised. Production increases projected for these countries more than offset lower production forecasts for the United States, India and Pakistan.
Separately, world wheat consumption in 2015-16 was projected at a record 715 million tonnes, up four million tonnes from the April outlook, and compared with a forecast 710 million tonnes in 2014-15, the current record.
The IGC pointed out that a projected increase in food and industrial demand for wheat would be partly offset by declines in feed and other uses.
Global wheat trade in 2015-16 was projected at 149 million tonnes, down two million tonnes from the IGC's April projection, and down four million tonnes from 2014-15. The IGC said the lower projection for 2015-16 was because of weaker import needs particularly in Turkey, the European Union, and North Africa.
The IGC also projected world wheat ending stocks for 2015-16 at 200 million tonnes, up six million tonnes from the April projection, equalling the forecast for 2014-15 ending stocks.