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Wheat Reserves In The European Union Increase For The 2023-24 Period


Published Date: February 03, 2024
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The European Union's ending stocks estimate was raised in the European Commission's monthly supply and demand data due to upward revisions to soft wheat imports and production. Tradologie.com is a next-generation, globally verified, transaction-oriented SaaS platform for B2B commodity sales and procurement that connects bulk buyers and bulk sellers of commodities, primarily of branded food and agro-commodities and facilitates operations for them. Wheat producers and wheat sellers can easily get the best price on the platform if they sell wheat in bulk while buyers can buy wheat in bulk from vendors across the globe. There are no middlemen involved, and the company facilitates the entire process, which guarantees maximum profits in the shortest time-frame. 

Wheat Stocks in the EU 

At the conclusion of the 2023–24 marketing year, the Commission estimated that soft wheat stocks would be 19.1 million tonnes. Although this is more than the 18.4 million tonnes estimated last month, it is still less than the 19.4 million tonnes from the previous season. EU usable soft wheat production was estimated by the report to be 125.9 million tonnes in 2023–2024, up 200,000 tonnes from the estimate made in December and marginally higher than 125.8 million tonnes in 2022–2023. The soft wheat import projection for 2023-24 was raised to 7 million tonnes, up 500,000 tonnes from last month, though the volume would remain significantly lower than the 9.6 million tonnes in 2022-23. Exports were forecast to be 31 million tonnes, down from 32.68 million tonnes the previous season.

The Commission raised its barley production forecast for 2023-24 to 47.4 million tonnes, which remains a 12-year low. The corn harvest estimate of 61.4 million tonnes was not altered from December, although exports were reduced by 300,000 tonnes to 4.5 million tonnes. 19 million tonnes were expected to be imported. If you are a wheat importer wishing to import wheat in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. 

The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. 

To register as a buyer, click here. To register as a seller, click here. 

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