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The European Commission has presented its forecasts on cereals to EU Member States in the Management Committee of 30 August.
The main conclusions arising from the presentations were, at European level, despite the drought in certain Member States, current forecasts for agricultural products are at 279 million tonnes of cereals. This is 2% lower than the average over the past five years, but is still 25 million tonnes above figures for 2007/08, which proved to be a particularly bad year.
As regards soft wheat, current forecast is at 127 million tonnes, which is a status quo compared to the average over the past five years. As regards maize, current forecast is at 60 million tonnes, which is 2% higher than the average over the past five years.
Current balance sheet shows a net exporter situation (around 10 million tonnes), instead of a net importer situation for 2007/08 (around 8 million tonnes).
Thursday August 30, 2012/ BPEX/ United kingdom.
http://www.bpex.org.uk
