March 28, 2005

World trade in wheat raised by 2 million tonnes

World wheat trade for 2004-05 (June/July) has been forecast at 100.5 million tonnes, up by 2 million tonnes.

Despite the upward revised revision, global wheat trade would remain below the volume in the previous season as the sharp reduction in wheat imports by developed countries was seen to offset increased imports of developing countries, said the Food and Agriculture Organisation (FAO) of the United Nations.

In the financial year 2004-05, developed countries are likely to account for 19 million tonnes of wheat imports, significantly below the level in the previous season.

Most of the decline has been attributed to the EU, with its 25 member nations lowering their wheat imports to approximately 4.6 million tonnes.

Developing countries are estimated to import a total of 81 million tonnes, rising 8 million tonnes from the previous season. China is expected to account for the biggest increase in Asia, up 4 million tonnes to reach 7 million tonnes in the current season.