3-Europe Union Reduces Wheat And Maize Crop Estimates, Raises Imports To Address Supply Shortages

1. Europe Union Reduces Wheat And Maize Crop Estimates, Raises Imports Europe Union Reduces Wheat And Maize Crop Estimates, Raises Imports To Address Supply Shortages To Address Supply Shortages The European Commission decreased its projections for the harvest of wheat and maize in the European Union this year, but it revised up its outlook for the overall supply of the cereals as it sharply increased anticipated imports. EU Agricultural Outlook EU Agricultural Outlook The EU's production of common wheat, also known as soft wheat, was estimated at 125.3 million metric tons (MMT), down from the 126.1 MMT forecast made a month earlier and just shy of the 125.7 MMT crop from the previous year. In its data on supply and demand, the Commission also reduced its forecast for maize production, from 61.7 MMT projected a month earlier to 59.8 MMT, though it remained significantly higher than the drought-ravaged harvest of 52.1 MMT last year. The Commission reduced its projection of the barley harvest this year from 51.5 MMT to 48.4 MMT, a reduction of 200,000 tons. The Commission reported that of the EU nations, Spain had seen the largest month-over-month reductions in estimated cereal production, down 16%, followed by Hungary (-5.8%) and Romania (- 4.3%). With a 5.8% increase since last month, Poland was the only EU country for which the expected cereal output had undergone a significant upward revision. Amongst oilseeds, rapeseed production estimates was revised up from 19.1 MMT previously to 19.6 MMT, marginally above last year’s output.

2. EU Agricultural Trade EU Agricultural Trade The projected amount of EU soft wheat imports for the 2023–2024 growing season was increased from 4 MMT to 6.5 MMT, and the anticipated amount of EU maize imports was increased from 17 MMT to 20 MMT. The Commission raised its outlook for 2023–24 ending stocks of both soft wheat (to 17.8 MMT from 16.3 MMT last month) and maize (to 17.8 MMT from 17.3 MMT) as a result of higher import projections. In terms of EU exports, the Commission maintained its projections for soft wheat and barley at 32 MMT and 10 MMT, respectively, for 2023–2024. If you are a wheat importer wishing to buy wheat in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you. Tradologie.com serves a SaaS platform that facilitates bulk agro-commodities trade across the globe including all varieties of wheat. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities such as rice, wheat, pulses, spices and many other commodities at negotiable rates. Sellers on the platform get better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.