Grain supplies dip further

by 5m Editor
30 August 2006, at 12:45pm

UK - The International Grains Council (IGC) has been forced to lower grain estimates announced last month as conditions in the worldwide grain market worsen.

IGC wheat output predictions were further lowered from 596m tonnes to 593m tonnes and overall grain production was cut from 1577m tonnes to 1575m tonnes – a total fall of 51m tonnes from the previous year.
The decline is largely down to poor harvests, particularly in Central and Eastern Europe, where adverse weather conditions throughout both the summer and winter have taken their toll on soil quality.

Poland estimated that as much as 30% of its entire harvest had been corrupted, while similar results saw the Ukranian government twice slash its estimates for crop output.


5m Editor