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British wheat developing new markets
British wheat continues to be in demand in nontraditional markets, including in Europe and in Algeria
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British wheat continues to be in demand in nontraditional markets, including in Europe and in Algeria. According to the AGN. "Grain Online" with reference to FG Insight.

Disappointing wheat yields and the increase in domestic demand led to a reduction in export capacity in the UK by 50% compared to the previous season.

However, enough high-quality wheat exporters provided some opportunities, says Director of trade company Gleadell Jonathon lane.

"The UK has again sold the wheat for an Algerian tender, and the problems with the content of mycotoxins and a low supply of wheat in France has also opened for British wheat some new markets on the European continent," he said.

Gleadell recently downloaded the ship MV Lady Astrid three thousand tons of wheat destined for direct delivery in Europe. As said Jonathon lane, this is one of the many vessels of small size, which his company sent this season.

The weakening of the British pound spurred not only export but also the production of ethanol. Since July of last year in tisport started working distillery company CropEnergies, which increased the domestic demand for wheat by 650 thousand tons.

Wheat exports were carried out mainly in the first half of the season. Now offer in the domestic market does not allow large-scale exports. According to forecasts Gleadell, the volume of export of wheat for the whole season will fit than last season.

"High domestic demand and reduction of supply will lead to the fact that carryover stocks will fall to an average level, equal to 1.8 million t. But then in the UK will remain a little room for error with the crop in the next year," he added.

 

Photo source: latifundist.com



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