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The European Commission forecasts an increase in wheat imports from EU countries in 2022/23

 Last Update: 2023-02-02
 Source: Internet
 Author: User

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European Commission experts raised their forecast for EU soft wheat imports for 2022/23 by 1 million mt from November figures to 5 million mt, also 2.
2 million mt more than the previous season
.

Notably, these adjustments take into account lower domestic production and the expected high food consumption
.
In particular, analysts lowered their 2022/23 total soft wheat harvest estimates by 500,000 mt/year to 126.
4 million mt (-2.
6 million mt/year) and consumption estimates raised by 500,000 mt – to 97.
6 million mt (up 1.
9 million mt/year).

Meanwhile, export and ending stock forecasts remain unchanged
at 34 (+47) MT and 15.
4 (-0.
1) MT, respectively.

As for other cereals, it is important to note that European Commission experts have lowered their EU corn production forecast for 2022/23 by 1.
2 million mt/f to 52.
1 million mt (73.
2 million mt was harvested before the season).

The consumption forecast was revised down by 500,000 mt to 768 (82) mt, while imports and exports remained at
23 (16.
3 million mt) and 2 (6.
66 million mt) respectively.
The ending stock forecast is slightly higher compared to 20.
4 million mt in 2021/22 - an increase of 300,000 mt to 16.
6 million mt
.

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