Tridge summary
The International Grains Council (IGC) has updated its forecast for the 2023-24 marketing year, predicting global wheat flour trade to reach 15.1 million tonnes, marking a 4% increase from the previous year and the highest in five years. This growth is largely attributed to significant imports by sub-Saharan Africa, especially Ethiopia and Sudan, with the region's imports expected to reach a six-year peak. Additionally, South America and North and Central America are projected to see a rise in flour imports, whereas the Commonwealth of Independent States and some Asian countries might experience a decline. Turkey is anticipated to continue leading as the top exporter with record shipments, followed by Kazakhstan. However, an initial projection for the 2024-25 season suggests a slight dip in global wheat flour trade.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Global wheat flour trade is projected to reach its highest level in five years, according to the International Grains Council (IGC), which revised its forecast 600,000 tonnes higher for the 2023-24 marketing year in its latest Grain Market Report. The report, released on April 18, pegs this year’s trade total at 15.1 million tonnes, a 4% increase over the previous year and the highest mark since 15.7 million tonnes were shipped in 2018-19. “The upward revision from January primarily reflects sustained strong imports by sub-Saharan Africa, which accounts for the bulk of the annual increase in 2023-24 trade,” the IGC said. “Deliveries to that region are forecast to rebound strongly this season on brisk demand for supplies from Turkey.” Led by increased shipments to Ethiopia and Sudan, imports by sub-Saharan Africa are projected to reach a six-year high of 2.8 million tonnes, the IGC said. “Notably, challenging conditions for the domestic wheat milling industry could see Sudan boost ...
Source: UkrAgroConsult
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