October 13, 2011

UK's 2011/12 wheat supplies remain the same

British wheat inventories stay almost the same in 2011/12 as a slightly bigger crop counterbalances lower opening stocks in contrast to the start of the last season, according to the Home-Grown Cereals Authority on Wednesday (Oct 12).

According to Reuters, the HGCA, in its first supply/demand balance for the 2011/12 marketing season which began on July 1, put wheat availability at 17.83 million tonnes, marginally down from 17.91 million in the prior season.

Stocks at the start of the 2011/12 season were seen at 1.53 million tonnes, down 500,000 tonnes from a year earlier, while Britain's farm ministry has estimated this year's wheat crop at 15.36 million tonnes, up 485,000 tonnes from last year.

Domestic consumption in 2011/12 was seen rising 1% to 13.93 million tonnes, with a 7% rise in animal feed use to 6.64 million tonnes partially offset by a 3% decline in human/industrial use to 6.91 million.

The HGCA said the human/industrial use estimate assumed Britain's one existing bioethanol plant would return to service in 2012.

Ensus temporarily shut down Britain's only major bioethanol plant around the end of May, citing difficult market conditions. It remains offline.

Britain's farm ministry is due to issue its first official supply/demand balance figure for the season on November 16.