Overview of the International Wheat Market

Introduction: 1 India: it is expected that the grain inventory in India will increase to 53.1 million tons on April 1, 2003, which is 50.9 million tons compared with April 1, 2002 (including 24.9 million tons of rice and 26 million tons of wheat) Wheat exports are expected to increase only slightly in 2002 / 03 It is estimated that in 2002 / 03, the government's grain purchase volume may reach 42 million tons (including 22 million tons of wheat and 20 million tons of rice), and the food consumption is expected to reach 39.8 million tons (2010 million tons of wheat and 19.7 million tons of rice) in 2002 / 03 Therefore, on April 1, 2003, India's Grain Reserve reached 53.1 million tons (25.2 million tons of wheat and 27.9 million tons of rice), compared with the demand of 15.8 million tons (11.8 million tons of rice and 4 million tons of wheat) Although India's grain production peaked at 211.2 million tons in 2001 / 02, the Committee on agricultural costs and prices was concerned about the large inventory The huge inventory volume is not only due to the increase of production, but also due to the increase of the relative yield ratio of the purchase volume in the past few years, the minimum protection price of wheat and rice has been continuously raised, and through the public sales system, the open market sales of exports and other consumption decreased The ratio of wheat purchase / output increased from 11.8% in 1996 / 97 to 28% in 2001 / 02; the ratio of rice purchase / output increased from 14.5% in 1996 / 97 to 20% in 2001 / 02 Pakistan: Pakistan trading company recently sold 35000 tons of wheat at the price of USD 115 / T C & F, which was rejected by Iraq Due to quality reasons, the Iraqi government rejected the batch of wheat, so TCP conducted bidding sales The bid price of four overseas buyers is US $100-115 / ton C & F Iraq rejected the batch of wheat because its sand content exceeded the standard Pakistan's wheat carry over inventory is over 3 million tons, and it hopes to export at least 1.2 million tons of wheat in 2002 Pakistan's wheat output in 2000 / 01 was 18.9 million tons, and it was estimated that the wheat output in 2001 / 02 was 19.16 million tons, slightly lower than the government's target output of 20 million tons 3 China: experts in Nanyang City, central China have successfully cultivated varieties of edible wheat with various colors Such as purple, black, green, blue and coffee, these varieties are rich in iodine, calcium, iron, zinc and other nutrients Color is due to the presence of trace elements in wheat These trace elements are very important to human beings, so the demand for these wheat is strong in the domestic and international market It is expected that the new varieties will provide new opportunities for farmers and food processing plants Indonesia: the Ministry of trade and industry of Indonesia proposes to reduce the anti-dumping tariff on wheat flour in order to eliminate the price gap between domestically produced flour and imported flour The importer wants the lowest tariff But domestic flour producers want tariffs to rise to 35% to protect their domestic industries and prevent cheap foreign wheat flour from entering the market The Ministry of trade and industry of Indonesia submits a proposal to the country on the basis of the 20% tariff recommended by the anti dumping Committee of Indonesia Importers want tariffs to be as low as possible, but flour producers want them to be raised to 35% At the beginning of this year, Indonesia temporarily cancelled the planned 35% tariff on flour imports from the European Union, Australia and the United Arab Emirates to protect domestic consumers But domestic flour mills chose these countries to dump flour into Indonesia and hurt the domestic industry.