Global wheat demand supply is likely to remain tight next year as well, said Dave Burrows, director Brand Development, Canadian Wheat Board (CWB) He pointed out several factors that are responsible for this condition, which includes booming Indian economy’s requirement of additional grain stock and stagnant output in Canada. Canadian Wheat Board, the largest single seller of wheat and barley is undergoing value addition drive and is trying to market branded flour instead of wheat in overseas markets, Burrows said.
“As more and more farmers are shifting to other high margin crops like oilseed and corn, the acreage under wheat is going down and the output is expected to remain around 18 to 20 million metric tonne in Canada,” Burrows said at a session on doing business with Manitoba, Canada, organised by CII, northern region headquarters here. He also said that the wheat growers in Western Canada are going for quality, which would lower the output of wheat in future.
He said Canada is a formidable player in global wheat market with marketable surplus of over 16-18 million metric tonne whereas domestic consumption is less than 2 million metric tonne. He also said that wheat production in India is expected to be around 74-75 million tonne and the country is likely to remain major importer of wheat in future as well. “CWB has already tied up in ecuador to market its branded flour and the board is vying for tie ups with other countries including India,” Burrows added.
Rosanne Wowchuk, deputy Premier & minister of agriculture, food & rural Initiatives, Manitoba government, Canada, spoke about the signing of a letter of intent involving Manitoba agriculture, food and rural initiatives and IL&FS Limited of India. “The document we are signing formalise our collaborative efforts with respect to establishing food development centres in India. The joint venture will help us all to work together for our mutual benefit.”
Tapping in to important emerging markets like India is a key part of our international strategy, she added.