last release: 7 March 2024
Supply & Demand
2022/23 | 2023/24 | ||
---|---|---|---|
estimate | 1 Feb | 7 Mar | |
Production | 805.6 | 788.5 | 787.3 |
Supply | 1104.9 | 1111.3 | 1110.1 |
Utilization | 779.2 | 794.3 | 793.3 |
Trade | 199.9 | 197.4 | 197.5 |
Ending Stocks | 323.2 | 319.7 | 318.9 |
in million tonnes |
- Wheat production in 2023 now stands 2.3 percent below 2022 level following a revision this month largely on lower estimate in India.
- Utilization in 2023/24 also lowered m/m, mostly for other uses, but still set to increase by 1.8 percent above the 2022/23 level led by strong growth in feed use.
- Trade in 2023/24 (July/June) nearly unchanged and still headed for a 1.2 percent decrease from the 2022/23 level with smaller shipments from Australia and weaker demand from China, EU, and Türkiye.
- Stocks (ending in 2024) forecast trimmed, reflecting lower stocks in India due to lower production, and set to decline by 1.3 percent below opening levels.