FAO ups global wheat output estimate to 677 million tonne

Commodities Bureau
Posted: Monday, Nov 10, 2008 at 2251 hrs IST
Updated: Monday, Nov 10, 2008 at 2251 hrs IST

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Delhi, Nov 9: the continent, most notably the Islamic Republic of Iran, where this year's production could shrink by more than one-third because of severe drought. As a result, the country is expected to turn into a leading world importer for the first time, purchasing a decade-high 6 million tonne in 2008/09, after many years of near self-sufficiency.

Other countries in Asia, where wheat imports this season may also increase sharply, include Afghanistan, Bangladesh, Pakistan and the Syrian Arab Republic. In addition, Indonesia is expected to take advantage of the lower world prices to import more, while competitive world prices of feed wheat are likely to boost imports by the Republic of Korea. Saudi Arabia, traditionally self-sufficient in wheat, is forecast to purchase a sizable volume from world markets this season....

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