EU to retain title of top wheat exporter in 2015-16
March 27, 2015
Aided by constraints facing the U.S. and the former Soviet Union, the EU is expected to retain its spot as the world’s top wheat exporter in the 2015/16 season, according to Canadian grains giant CWB. The company expects EU wheat exports to reach a record 32.35m tons in 2015/16, propelled by a decent harvest and a soft euro. These forecasts come in contradiction to what the EU itself has projected – a 10% drop from this year’s 31.5 million tons of export to 28.3 million tons.
The EU’s competitors in the global wheat market are facing their own challenges in 2015/16. This year, U.S. exports have been constrained by a strong U.S. dollar to 24.5 million tons but are expected to grow to 26.6 million tons in 2015/16. Production in the former Soviet Union will drop from 2014 highs in 2015/16, causing exports to drop as well. The CWB expects Ukraine’s wheat exports to drop 12% to 9.7 million tons and Russian exports, impacted by further government restrictions, are expected to drop 2.4 million tons to 17.6 million tons.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.