IGC raises wheat crop estimate
The International Grains Council (IGC) on Thursday raised its estimate for world wheat production in 2008-09 to a record 676 million tonnes, up 4 million from its forecast issued last month.
By Agencies |
LONDON: The International Grains Council (IGC) on Thursday raised its estimate for world wheat production in 2008-09 to a record 676 million tonnes, up 4 million from its forecast issued last month. The IGC put the 2007-08 wheat crop at 609 million.
���Better than expected crops in the EU, Russia and Ukraine more than offset a lower forecast for Australia, where rains are still inadequate. Concern is also increasing about Argentina���s crop,��� the report said.
The IGC cut its forecast for Australia to 22 million tonnes, from a previous projection of 24 million. Russia showed the largest increase at 58 million, up 3 million. World maize production in 2008-09 was projected at 771 million tonnes, down from a previous forecast of 774 million and the prior season���s 787 million.
���Prospects improved in the EU, but reduced estimates for Argentina, Mexico and some other countries lowered the world total by 3 million,��� the IGC said. Forecasts for the world���s top two maize producers, the US and China, remained unchanged at 305 million and 156 million, respectively, while Mexico was cut by 1.5 million to 23.5 million and Argentina by 1 million to 20 million.
���Better than expected crops in the EU, Russia and Ukraine more than offset a lower forecast for Australia, where rains are still inadequate. Concern is also increasing about Argentina���s crop,��� the report said.
The IGC cut its forecast for Australia to 22 million tonnes, from a previous projection of 24 million. Russia showed the largest increase at 58 million, up 3 million. World maize production in 2008-09 was projected at 771 million tonnes, down from a previous forecast of 774 million and the prior season���s 787 million.
���Prospects improved in the EU, but reduced estimates for Argentina, Mexico and some other countries lowered the world total by 3 million,��� the IGC said. Forecasts for the world���s top two maize producers, the US and China, remained unchanged at 305 million and 156 million, respectively, while Mexico was cut by 1.5 million to 23.5 million and Argentina by 1 million to 20 million.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
