IGC Predicts 591 MMT Wheat Harvest

LONDON - Mar 27/03 - SNS -- World wheat production is expected to come in at 591 million metric tons (MT), according to the London-based International Grains Council (IGC).

This would be a 24 million MT improvement over last year. Major increases are likely in Canada, the US and Australia, all suffering severely from drought last year, the IGC said in its monthly grain market review.

"In the EU, unfavorable winter weather may reduce output slightly. Central and Eastern Europe and North Africa expect larger harvests after good rains. Much smaller crops are likely in Russia and Ukraine after the severe winter, and there will also be reductions in China and India."

World wheat consumption in 2003-04 is forecast at a record 598 million MT (595 million MT). Expanding consumption of wheat products in developing countries, particularly in Asia, will raise food use by 3 million MT to 430 million MT, while a reduction in feed use to 105 million MT (108 million MT), mostly in Europe and Australia, balances an increase in other uses.

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