FranceAgriMer raised the outlook for French wheat exports outside the EU to 10.3 million tons. Morocco and China boost exports as they approach the halfway point of the season. Wheat stocks are stable as both intra-EU trade and feed consumption have decreased. Agricultural agency FranceAgriMer has raised its forecast for French wheat exports outside the European Union this season, citing buoyant demand led by Morocco and China.
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Wheat shipments to countries outside the EU could reach 10.30 million tonnes in the July-June 2022/23 farming season, compared with 10.00 million tonnes expected last month. The revised forecast is 17% above last season's volume and a new three-year high. Traders expect French shipments to pick up on recent demand from China, which will increase loading schedules. The expected wave of Chinese shipments will stimulate activity already this season: in July-November, the volume of shipments outside the EU was just over six million tons, of which around 1.6 million tons went to Morocco, said Paul Le Bideau, deputy head of FranceAgriMer's grain unit. to journalists. However, FranceAgriMer left its forecast for end-of-season French wheat stocks at 2.55 million tonnes almost unchanged as it reduced expected demand in other areas. The agency lowered its forecast for French wheat exports to the EU in 2022/23 from 6.94 million to 6.73 million tonnes and cut its forecast for feed use from ...
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