Drop in world wheat crop projected
Global wheat crop is projected to decrease with at least 40 million in 2009 to 642 million tonnes provided there are no major weather incidents before the harvests, according to French analyst Agritel.
Agritel said its first estimates for the 2009 world wheat harvest were based
on other analysts’ forecasts that sowings would drop up to 5 percent in
2009/2010 to 214 million hectares after the recent slump in prices.”This year’s
record crop cannot be reached and the drop in area should lead to a loss of at
least 40 million tonnes,” the analyst wrote in a report.
It said world
wheat demand for food was expected to rise to 455 million tonnes, pointing to a
linear increase in demand for human consumption in the past, regardless of
price. Demand for feed, which is more dependent on prices and output, could
range between 100 and 114 million tonnes against nearly 120 million in
2008/2009.
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