EU CEREALS, MAIZE PRODUCTION ESTIMATES CUT
The European Union’s wheat and maize estimates were lowered in the latest European Commission monthly supply and demand data. For soft wheat, EU production was estimated at 125.3 million tonnes, down from 126.1 million forecast a month ago and slightly below last year’s harvest of 125.7 million. Output for maize was lowered to 59.8 million tonnes, well above last year’s drought-hit 52.1 million tonnes, though a downward revision from last month’s projection of 61.7 million and July’s 63 million.
Projected EU soft wheat imports in the 2023-24 marketing year were increased to 6.5 million tonnes from 4 million, while EU maize imports were raised to 20 million tons from 17 million. The barley forecast continued to fall as well, with the Commission cutting a further 200,000 tonnes from last month’s projection to 48.4 million tonnes in its latest report. In oilseeds, the estimated production of rapeseed was revised up to 19.6 million tonnes from 19.1 million previously, slightly above last year’s output.
(Link: WorldGrain)
INDIA EXPANDING GRAIN STORAGE CAPACITY
India has currently banned exports of wheat and rice to combat rising food prices and needs more modern grain storage facilities to reduce post-harvest waste. The FCI has already completed construction of 1-million-tonne and 2-million-tonne silos and now plans to build wheat silos with 9.4 million tonnes of capacity during the next three to four years at 196 locations across the country, according to the Financial Express report.
The grain storage expansion project is being funded through a public-private partnership and will cost about $1.3 billion, the Financial Express reported. The FCI stores 40 million to 50 million tonnes of rice and wheat as part of the National Food Security Act. India, which recently passed China as the world’s most populous country with 1.4 billion people, currently has storage capacity for only 47% of its total grains output, according to the Indian government.
(Link: WorldGrain)
