French wheat export forecast for 2024/25 indicates lowest volume in decades

By Gus Trompiz PARIS (Reuters) - Farm bureau FranceAgriMer on Wednesday cut its forecast for French soft wheat exports outside the European Union this season to the lowest level since the turn of the century, reflecting weaker demand from North Africa and China. A poor harvest, with the lowest volumes since the 1980s and mixed grain quality, had been expected to reduce French wheat exports in 2024/25, but they were further stifled by strong competition from Russia and a pause in Chinese imports. In a monthly supply and demand outlook, the bureau cut its forecast for French wheat shipments outside the bloc to 3.5 million metric tonnes from 3.9 million previously, now 66% below last season’s level. That would also be the lowest figure in FranceAgriMer’s data since the 2000/01 season, down from the current low of 3.8 million tonnes in 2003/04, Habasse Diagouraga, a cereals analyst at the firm, told reporters. Given Russian competition in Algeria and Morocco, as well as a lack of ...