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As Japan’s Ministry of Finance announced import statistics ending June 2014 for wheat, Post has finalized the 2013/2014 marketing year (MY) import number in its PS&D.
Based on the officially reported data on the progress of the Russian grain harvest, FAS/Moscow increased its forecast of Russia’s total grain crop in MY 2014/15 by 1 million metric tons to 102 MMT.
Nigeria’s wheat demand continues to rise and is attracting more third-country suppliers of inexpensive wheat. Imports for 2013/2014 have been adjusted to 4.55 million metric tons.
Unusually rainy weather along with cooler temperatures this year made the season challenging for the farmers.
MY 2013/2014 wheat consumption is estimated at 1.85 million tons, an increase from MY 2012/2013 due to the likely the use of more feed wheat in the aquaculture feed industry.
Wheat production for 2014-15 is forecast at 12.5 million tons, 500,000 tons higher than USDA.