The EU is reducing its forecast for common wheat production in 2022-23

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The European Commission on Friday cut its forecast for the European Union’s wheat harvest in 2022/23, but kept its forecast for record exports as the war in Ukraine disrupted the supply chain.

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In its monthly estimates of grain supply and demand, the Commission reduced its forecast for usable common wheat production in 2022/23 to 130.1 million tonnes from 131.3 million tonnes previously.

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It maintained its forecast for soft wheat exports in the period 2022/23 at 40 million tons, a quantity that would be a record.

However, the Commission increased its forecast for common wheat stocks by the end of 2022/23 to 12.6 million tonnes from 12.2 million a month earlier, reflecting an upward revision of this expected supply. the period.

For 2021/22, final stocks of common wheat increased to 14.8 million tonnes from 13.2 million tonnes previously, as projected exports fell by 1 million tonnes and expected imports increased by 0.5 million tonnes .

Source: Capital

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