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UK Finally Becomes Net-exporter of Wheat

UK Finally Becomes Net-exporter of Wheat

11 December 2014
HGCA

UK - The latest data from HMR&C shows that in October the UK exported more wheat than it imported – the first time since May 2012.

For the season so far (Jul-Oct) though, the UK remained a net-importer. However, if the current anecdotal export pace is realised, this will soon be rectified.

The big UK wheat crop of 2014 requires a return to the export market. However, low protein levels in the domestic crop means that imports of high quality milling wheat are likely to remain a factor.

The upshot is that the UK export pace not only needs to mitigate the size of the 2014 crop but also imports, if stock accumulation and possible price issues are to be avoided at the end of the season.

In contrast to wheat, UK barley exports continue at reasonably impressive levels. In October barley exports reached 169.3Kt - the highest level since November 2013, but some way below the 202Kt exported a year earlier.

So far, 55 per cent of UK barley exports this season have been to non-EU destinations, dominated by Algeria and Saudi Arabia.

TheCropSite News Desk



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