PARIS: Farm office FranceAgriMer on Wednesday lowered by 100,000 tonnes its monthly forecast for French soft wheat exports outside the European Union in the 2022/23 season to 10.2 million tonnes, which would still be 16% above the previous season.
After projecting non-EU soft wheat exports as high as 10.6 million tonnes in January, the office has regularly trimmed its outlook in the past months, citing renewed competition from the Black Sea region. The lower exports outside the 27-member bloc were the main reasons for a rise in projected French soft wheat stocks at the end of the season on June 30, to 2.89 million tonnes from 2.72 million projected last month and now 3.8% above last season.
The office the office kept nearly unchanged its forecast for 2022/23 soft wheat exports within the EU at 6.38 million tonnes from 6.39 million forecast in May, and 20% below 2021/22. In its monthly supply and demand outlook for major cereal crops, FranceAgriMer also increased its forecast of 2022/23 barley stocks, now seen at 1.26 million tonnes, from 1.12 million earlier.
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