18.
11.20
15:28

France's wheat deliveries to China back to last year's level?

French wheat exports to China in the 2020/21 marketing year could exceed last season's large volume as France was able to meet robust Chinese demand due to its status as one of the few approved suppliers, trading company Lecureur said on Wednesday.
French deliveries to China are expected to reach 1.6 million tons in the first half of the July-June season, which is already the total volume of 2019/20, said Thierry de Boussac, Lecureur's commercial director, at the Global Grain conference .
The trading company also predicts that France could export another 1 to 1.1 million tons of wheat to China from January to June, the second half of the 2020/21 season.
China has increased its grain imports in recent months as it recovered from the coronavirus and swine fever epidemics, and tensions with Australia have increased the burden on other supplier countries.
France has already shipped nearly 1.2 million tons of wheat to China since July, and some traders believe 2 million tons is possible throughout the season.
Consulting firm FranceAgriMer on Tuesday increased its monthly forecast of French wheat exports excluding durum wheat outside the European Union and the UK this season by 150,000 tonnes to 6.85 million tonnes, partly due to Chinese demand.
A sharp decline in French crop production this year should limit French exports outside Europe to a maximum of 7 million tonnes, compared to a record 13.5 million last season.
For the second half of the season, Lecureur recorded an export surplus of 3.3 million tonnes, which is dominated by China and the most important customer Algeria. Algeria is expected to consume 1.5 million tons of French wheat this season.
However, if China decides to stop its wheat imports, it could free 1 million tons of French wheat for Algeria and other destinations like Morocco and West Africa, he added.

Source
Hansa Terminhandel GmbH
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