News
21.02.2018
Indonesia will be the key importer of wheat in the world
According to USDA forecasts, in 2017/2018 MY Indonesia will occupy Egypt position and boost its imports of wheat to 125 mln tons.
According market analysts, the growth by 2,33 mln tons compared with last year was caused by the significant growth of domestic wheat processing volumes for further food and feed purposes. Austria, Canada, Ukraine and Russia were the key suppliers of wheat to Indonesia over the past years. Taking into account that in the season 2017/2018 MY Ukrainian cereals in the world market is quite attractive in terms of price, volumes of wheat shipments from Ukraine to Indonesia have significantly increased. For the period from July to November 2017, imports from Ukraine exceeded imports from Australia, which for a long time covered 50% of Indonesia's import demand.
Recall that the USDA increased the forecast of world wheat production by 127 mln tons to 758.24 mln tons. At the same time, world demand for wheat is estimated at 183.58 mln tons. World wheat consumption will grow to 744.78 mln tons compared to 739, 37 mln tons in 2016/2017 MY.
