Global: IGC sees flour trade dropping sharply

Published 2024년 10월 28일

Tridge summary

The International Grains Council (IGC) forecasts a 6% decrease in global wheat flour trade for the 2024-25 season, dropping to 15.9 million tonnes from the previous year's high of 17 million tonnes. This decline is attributed to reduced purchases by Iraq and sub-Saharan Africa, alongside a temporary wheat import ban in Turkey. Despite this, other top exporters like Kazakhstan, Russia, and Egypt have seen their export projections revised upwards. Iraq's imports are expected to hit their lowest level since 2012-13 at 1.3 million tonnes, while sub-Saharan Africa's imports are projected to drop to 2.6 million tonnes. However, Afghanistan's imports are predicted to rise to 3.3 million tonnes, making it the world's top flour importer.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After reaching a six-year high last year, global wheat flour trade is forecast to decline by 6% in the 2024-25 trading season, to 15.9 million tonnes, according to the International Grains Council (IGC). Global trade reached 17 million tonnes in 2023-24. The IGC lowered its projection by 200,000 tonnes (wheat equivalent) from its July estimate. “The annual drop is partly linked to envisaged smaller purchases by Iraq, the world’s second largest importer, but with sub-Saharan imports also seen retreating after the previous year’s upturn on potentially reduced deliveries from Turkey,” the IGC said in its quarterly report. With a temporary wheat import ban in place that was only partially eased this month, the forecast for Turkey, the world’s largest flour exporter, was scaled back markedly since July, the IGC said. Turkish shipments during the first two months of the current trading season were estimated at 700,000 tonnes, down by more than one-third from 2023-24. The Council sees ...

Source: UkrAgroConsult