IGC: Global wheat production and ending stocks are expected to decline year-on-year in 2015/16.

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IGC: Global wheat production and ending stocks are expected to decline year-on-year in 2015/16.

2015-03-27 15:14 |
source: China Grain Network |
according to a monthly report released by the London-based International Grains Council (IGC) on Thursday, global wheat production and stocks will both decline in 2015/16.

IGC predicts that global wheat production will be reduced to 0.709 billion tons in 2015/16, 10 million tons less than the previous year. In 2015/16, global wheat consumption will increase slightly, reaching 0.711 billion tons, up from 0.708 billion tons in 2014/15. Therefore, the global wheat ending stock in 2015/16 will be reduced to 0.196 billion tons, down from 0.198 billion tons in 2014/15.

IGC also said that global grain stocks in 2015/16 will be reduced to 0.406 billion tons, 23 million tons or 5 percentage points lower than the previous year. However, the level of global food stocks is still good, and the ratio of stocks to consumption will reach the five-year average.