French wheat production reached a multi-decade low

Published 2024년 3월 4일

Tridge summary

The European Union is facing a deteriorating wheat trade balance, with a significant drop in production expected in France. Wheat exports from the EU have decreased by 8% to 18.6 million tons by February 2, 2024, while imports have risen by 3% to 5.7 million tons, largely from Ukraine. Contributing to this is a 7% contraction in France's wheat sowing area, with winter weather potentially causing an additional 11% loss. The EU's overall wheat area may decrease by 3% this year, potentially leading to lower yields.

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

Original content

The wheat trade balance of the European Union is deteriorating, which discourages farmers from growing grain in the largest producing country. The sowing did not start well, and since then the situation has only worsened. There will be less wheat this year in the whole of Europe, but the level of production will fall especially in France. According to data from the European Commission, until February 2, 2024, the wheat exports of the EU countries decreased by 8 percent to 18.6 million tons compared to the same period of the previous year. In a February estimate, the United States Department of Agriculture (USDA) indicated 786 million tons in 2023/2024. expected global wheat harvest in the financial year - states the AKI report. The predicted consumption may be more than this, 798 million tons. In the current sales season, Russia exported 51 million tons (+7%), the European Union 36.5 million tons (+4%), Canada 24 million tons (-5%), Australia 23 million tons (-29%), the The United ...

Source: Magro