Bloomberg News

France's Soft-Wheat Export Outlook Lowered by Crop Office

June 20, 2012

French soft-wheat exports in the year through June will be lower than forecast a month ago on falling shipments outside the European Union, crop office FranceAgriMer said.

Outbound shipments of the grain will be 15.7 million metric tons in 2011-12, less than the 15.9 million tons predicted in May, the Montreuil-sous-Bois, France-based crop office wrote in a report on its website.

France’s wheat exports, the world’s second-largest after the U.S. in the 2010-11 crop year, have declined after a spring drought last year curbed supplies and on competition with grain from Russia and Ukraine.

“Our performance is down from the previous year on Morocco but especially toward Egypt,” FranceAgriMer wrote. “Exports destined for third countries were revised downwards in light of what was already loaded.”

While the outlook for soft-wheat exports to EU countries was maintained at 7.1 million tons, the prediction for shipments outside the bloc was cut by 200,000 tons to 8.5 million tons, FranceAgriMer said.

The main non-EU destinations for French soft wheat this year will be Algeria, with 3.3 million tons, and Morocco with 1.5 million tons, the crop office wrote. Deliveries to Egypt, the world’s largest wheat buyer, are forecast to slump to 400,000 tons from 2.3 million tons in 2010-11.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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