Global wheat output may decline to 700 MT in 2014-15: IGC

NEW DELHI: Global wheat output is expected to drop marginally to 700 million tonnes in the 2014-15 crop year, says the UK-based International Grains Council (IGC).

For the ongoing 2013-14 crop year, it is projected to be 709 MT. The crop year varies from country to country. In India, the world's second largest wheat producer, it runs from July to June.

In its latest report, IGC said global wheat output is expected to be just sufficient to meet the demand, which is estimated to increase to 700 MT in 2014-15, from the projected 692 MT for this year.

"Growth in food and feed demand is expected to entirely absorb output, with carryover stocks forecast to be little changed at 190 million tonnes in 2014-15," IGC said.

Due to tight supply-demand situation, global wheat exports are expected to be down at 143 MT in 2014-15, as against 150 MT this year, the report said.

In the ongoing 2013-14 crop year, IGC said wheat output in China is expected to increase marginally to 121.7 MT, while it is likely to drop slightly to 93.5 MT in India.