June 27, 2007

China wheat end stocks to rise slightly in 2007/08
 

China's wheat demand will be met in the 2007/08 marketing year, with total end stocks likely to rise slightly, said the Ministry of Agriculture.

Industrial and feedmeal consumption will greatly increase on bio-fuel demand and development of the livestock industry, while food consumption will decrease slightly, said the ministry in a statement published on its website Tuesday.

It did not give specific figures on the consumption change forecast.

China uses a minimum purchase price programme to protect wheat farmers' interests. It auctioned 34 percent of the wheat bought under the programme last year as of end-May, said the ministry.

China exported 627,307 tonnes of wheat during the first five months of this year, more than double the same period last year. It imported 68,536 tonnes of wheat in the same period, down 75 percent on-year.