Grain Highlights 09.06.2022

The Rosario Grain Exchange has lowered its forecast for the wheat production in Argentina in 2021/22 to 18.5 million tons (19 million tons in the previous estimate).

- The Ministry of Agriculture of France expects the winter barley production in the country to be 8.25 million tons in 2022/23 (+0.4% compared to 2021/22), and the winter rape production is projected at 3.87 million tons (+17.8%).

- The Rosario Grain Exchange has lowered its forecast for the wheat production in Argentina in 2021/22 to 18.5 million tons (19 million tons in the previous estimate). In 2020/21, the wheat production was 23 million tons. Given the drought during the sowing campaign, the area is reduced to the lowest level for the last 12 years - 6.2 million hectares. Sowing will end in July and the harvesting campaign will begin in October.

- In the first 5 months of the year, imports of crops in the country decreased by 0.4% compared to the previous year to 38.04 million tons due to the low margin of soybean processors in China. According to a preliminary estimate, deliveries in May were 9.68 million tons (9.61).

- Indonesia has introduced a scheme for accelerated export of palm oil from the country, valid until 31.07.2022.

- The Government of India may allow the export of about 1.2 million tons of wheat, which is located in the country's ports. About 500,000 tons of wheat, for which there is no export permit, will remain in these warehouses.

- This year Pakistan will import 3 million tons of wheat from various suppliers around the world. Imports will be based on intergovernmental agreements.

- The authorities in Morocco have abolished import taxes on sunseed, soybean and rapeseed in force since 03.06.2022.

- At the tender announced by GASC for the purchase of 30,000 tons of soyoil and 10,000 tons of sunseed oil with deliveries within August 5 - 25, no deal for sunseed oil was concluded. The company purchased 52,500 tons of soyoil from local suppliers at prices of 1,770 - 1,850 USD/ton. Sunseed oil was priced at 1,898 - 2,028 USD/ton, but no deals were concluded.