Apr 26, 2024 (MENAFN via COMTEX) --
(MENAFN - The Rio Times) The European Commission has cut its forecast for 2024-25 wheat production to 120.2 million metric tons, marking a reduction from the initial estimate of 120.8 million metric tons.
This latest projection is the lowest since 2020, reflecting significant changes in the agricultural landscape of the EU.
These changes include a sharper-than-expected decrease in planting areas, suggesting challenging conditions for farmers and the wheat industry.
Additionally, the Commission has adjusted its estimates for wheat stock levels at the end of the 2024-25 season, raising them slightly from 12.1 million to 12.2 million tons.
This increase in projected stocks is attributed to an accumulation of supplies from the current season. This has somewhat mitigated the impact of the anticipated lower harvest.
Despite these adjustments in production and stocks, the European Commission has maintained its wheat export projections steady.
They expect 31 million tons for both the 2023-24 and 2024-25 seasons.
This constancy underscores the EU 's robust capacity to meet international demand, despite internal production shifts.
The broader agricultural outlook in the EU also reveals a modest decline in wheat yields, particularly for durum wheat , which has seen a near 5% drop from earlier forecasts.
This decline is primarily due to ongoing drier-than-normal conditions across many parts of Europe, compounded by higher temperatures in certain areas.
These adverse weather conditions have significantly impacted crop yields.
On the flip side, the Baltic Sea region has faced challenges from unusually cold weather, further complicating agricultural output.
These developments paint a complex picture of the EU's agricultural sector. They balance domestic production challenges and maintain a steady presence in the global food supply chain.
The situation calls for strategic management to navigate the varying climatic and economic conditions affecting wheat production and distribution.
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COMTEX_451450952/2604/2024-04-26T06:21:13
