The I.G.C. forecast world wheat consumption in 2012-13 at 679 million tonnes, unchanged from the July projection but down 13 million tonnes, or 2%, from a record 692 million tonnes in 2011-12. The I.G.C. indicated food and industrial consumption are expected to grow, but feed use likely will be lower.
World trade in wheat in 2012-13 was forecast at 133 million tonnes, unchanged from the July projection and down 13 million tonnes, or 9%, from 146 million tonnes in 2011-12. The I.G.C. said the year-over-year decline reflects lower imports for feed.
The I.G.C. forecast world wheat ending stocks in 2012-13 at 180 million tonnes, down 3 million tonnes from the July projection and down 17 million tonnes, or 9%, from 197 million tonnes in 2011-12.
“A projected fall in the major exporters is led by the Black Sea region,” the I.G.C. said.
