Adds particulars on 2021/22 and 2020/21 provide and demand
PARIS, July 13 (Reuters) – Farm workplace FranceAgriMer on Tuesday projected a pointy rise in French comfortable wheat exports and shares within the 2021/22 season that began this month, reflecting an anticipated rebound in harvest manufacturing within the EU’s greatest grain grower.
Smooth wheat exports exterior the 27-country EU have been forecast to achieve 10.5 million tonnes in 2021/22, up 40% in contrast with 7.50 million within the earlier season, FranceAgriMer stated in its first outlook for the brand new crop 12 months.
Smooth wheat exports throughout the EU have been pegged at 7.Three million tonnes, up 22% from an estimated 6.zero million in 2020/21.
Smooth wheat shares on the finish of 2021/22 have been anticipated to achieve 3.7 million tonnes, up almost 39% from 2.7 million on the shut of the 2020/21 season on June 30, FranceAgriMer stated.
The workplace’s provide and demand forecasts posted on its web site integrated a farm ministry estimate of 2021 comfortable wheat manufacturing at 37.1 million tonnes, up 27% from final 12 months.
Merchants and analysts extensively count on French wheat provide to get well from a poor 2020 harvest, though a moist begin to summer time has raised concern about high quality harm.
For barley, FranceAgriMer projected end-of-season shares would rise by virtually 16% to 1.Three million tonnes in 2021/22, additionally supported by an anticipated enhance in manufacturing.
Barley exports have been seen rising barely, with shipments exterior the EU forecast at 3.Three million tonnes in opposition to 3.2 million in 2020/21 and intra-EU exports pegged at 2.5 million tonnes in opposition to 2.Four million.
FranceAgriMer didn’t give 2021/22 forecasts for maize, which isn’t harvested till the autumn.
For 2020/21, it raised its estimate of maize ending shares to 1.9 million tonnes from 1.eight million final month, primarily attributable to a downward revision to intra-EU exports to 4.zero million tonnes from 4.1 million.
FranceAgriMer additionally revised 2020/21 estimates for wheat and barley. For comfortable wheat, the non-EU export determine of seven.50 million was down barely from 7.55 million in June and the intra-EU export estimate was up from 5.9 million tonnes beforehand.
(Reporting by Gus Trompiz, enhancing by Sybille de La Hamaide and David Evans)
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