At the end of October the international Grains Council (IGC) estimated the harvest of wheat in the world to 2019-20 year at $ 762 million. A month earlier, the forecast was more optimistic at 2 million tons. In the previous season, the grain production of this type on the world market amounted to 733 thousand tons.
Consumption of wheat in the world to 2019-20 MG in the latest report was estimated at 756 million tonnes. A year earlier, the volume of use was less than 17 million tons. Meanwhile, the September expectations were slightly higher current — 757 million tons, reports “КазахЗерно.kz”.
The volume of world trade in wheat in 2019-20 marketing year, according to the IGC report, published on October 24, will be 173 million tons. Before was 1 million tons lower. In the previous season this figure was equal to 169 million tons.
Ending stocks of grain on the world market in the 2019-20 season, will grow to 271 million tons in comparison with last year’s volume of the final reserves of 265 million tons. However, the September expectations ahead of the current 1 million tonnes.