Flour Production & Wheat Consumption in October

By CnAgri2012-11-26 12:39:59 Print     Flour production by medium and large mills registered 11.242 million MT in October, 3.2% more than the month before and 2.99% more than the same period of last year. Their flour production totaled 101.12 million MT in January ~ October, an increase of 8.51% on the year-on-year basis. The promulgated figures showed a production increase of 9.2% in October and 15.6% in January ~ October, both on the year-on-year basis.
 
    Wheat consumption by medium and large mills was about 15.192 million MT in October and 137 million MT in January ~ October.
 
    Deducting repetitive statistics, BOABC estimates that flour production and wheat consumption by medium and large mills were about 6.992 million MT and 9.449 million MT respectively in October. Flour production and wheat consumption were about 62.94 million MT and 85.054 million MT respectively in January ~ October.
 
    Small mills ran at 22.3% of their capacity and medium and large mills 49.8% in October.
 
    Wheat consumption for various uses was estimated to be 10.661 million MT in October. Wheat inventory was 106 million MT in October, suggesting a stock index of 7.7. The inventory included 32.82 million MT short-term state reserve, 25.65 million MT state reserve, 17 million MT flourmills’ stock and 24.11 million MT on-farm stock. Farmers sold 79.79% of their wheat by October, 4% more than the same period of last year.
 
    According to the National Bureau of Statistics, China’s wheat production was 117.4 million MT in 2011.
 
    In the 2012/2013 crop year, wheat acreage and production are predicted to be 24.409 million hectares and 117.3 million MT respectively. Year-end wheat inventory is predicted to be 42.988 million MT, suggesting a safety index of 34.3%.
 
    Wheat price was RMB2,215/MT in October and RMB2,154/MT in May ~ October, up 6.17% and 4.17% respectively on the year-on-year basis, attributable to inflation and the government’s raise of protective procurement price.

       

From “China Grains Market Weekly Report”