IGC raises global flour export forecast
In its February Grain Market Report, the International Grains Council (IGC) placed prospective flour trade in 2016-17 at 16,100,000 tonnes of wheat equivalent, up 600,000 tonnes from the prior expectation. The record forecast, also marking the first time that trade in wheat flour has exceeded 16 million tonnes, reflected a minimal gain from the revised export shipments in 2015-16 of 15,900,000 tonnes.
Global flour exports have been on an upward trend since the recent trade low of 12,650,000 tonnes was reached in 2012-13. The new estimate, reflecting flour exports in terms of wheat ground, was equal to nearly 260 million cwts of flour. Flour exports first passed 12 million tonnes in 2007-08, 13 million and 14 million in 2011-12, and 15 million in 2015-16. It was in 2002-03, near the start of the 21st century, that first saw flour exports above 10 million tonnes.
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