April 25, 2004
France 2004-05 Wheat Exports To Hit 1 Million MT
France hopes to export 1 million metric tons of its 2004-05 wheat crop to China provided that wheat output across Europe rebounds to more average levels after the current drought-cut harvest and makes French wheat more competitive on the world market, analysts from France's General Association of Wheat and Other Cereals Producers, or AGPB, said this week.
AGPB said due to China's "relatively constant" yearly production shortfall of 20-30 million tons. After feeding off its ample stocks accumulated in the 1990s for several years, China will be a major importer in 2004-05.
However, exports will heavily depend on currency movements and eventual outcome of the French crop, AGPB said.
France last exported wheat to China in 1996, AGPB statistics show.
France is also hoping to sell around 500,000 tons of malting barley to China, following exports of 600,000 tons in 2002-03, while exports during the current marketing year were negligible.
"China is the world's largest malting barley importer. They take up around 50% of total world trade in malting barley," Kaspi said.