Monday, March 28, 2011

Wheat Market news

2011 Global Wheat Production Should Grow 3.4 Percent

New York--The March 2011 Crop Prospects and Food Situation report released Wednesday by the United Nations Food and Agriculture Organization estimates world wheat production this year will be 676 million metric tons, a 3.4 percent increase over 2010. This production level would still be below the bumper harvests in 2008 and 2009.

Cereal output in the low-income food-deficit countries rose 5.6 percent in 2010, which will result in reduced cereal imports this year, according to the FAO report. But this will not necessarily spell much relief for these countries as their overall cereal import bill is estimated to increase by 20 percent because of higher international prices.

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