International grain trade forecast in 2017/18 decreased to 404 MT

International trade in all grains is forecast to approach 404 million tons in 2017/18, only 1.8 million tons (0.4 percent) below the previous season’s record volume. Trade in all the major grains, except for corn, is seen to contract, reports FAO.

"World wheat trade in 2017/18 (July/June) is pegged at 175 million tons, down 2 million tons (1.4 percent) from 2016/17 and 500 000 lower than the December forecast. The decline from the previous season reflects expectations of smaller purchases by China, India, Morocco and Thailand, more than offsetting higher imports by Egypt, Indonesia and South Africa," the message says.

Global trade in coarse grains in 2017/18 (July/June) has been raised by 1 million tonnes since December to 183 million tonnes and is now much closer to the record volume of 184 million tonnes in 2015/16.

"The increase reflects expectations of larger trade in barley driven mostly by stronger import demand in China and Iran. World trade in corn is set to increase by 3.2 million tons (2.3 percent) in 2017/18 to a record level of 143 million tons, unchanged from December. The projected trade expansion in 2017/18 reflects higher import demand forecasts for several countries, in particular China, Egypt, Mexico and Saudi Arabia," FAO analysts note.

Earlier it was reported that Ukraine from the beginning of 2017/18, as of January 31, 2018, exported 23.95 million tons of grain, which is 2.46 million tons less than over the same period last year.