Flour Production & Wheat Consumption in May

By CnAgri2013-07-09 11:06:14 Print Flour production by medium and large mills was 10.968 million MT in May, 3.4% more than the month before and 7.1% more than the same period of last year. Flour production totaled 51.166 million MT in January ~ May, an increase of 7.35% on the year-on-year basis.
 
The promulgated figures showed a flour production increase of 10.12% in May and 9.98% in January ~ May, both on the year-on-year basis.
 
BOABC estimates that medium and large mills consumed 14.82 million MT wheat in May and 69.14 million MT in January ~ May.
 
Deducting repetitive statistics, medium and large mills consumed 8.564 million MT wheat in May for the production of 6.337 million MT flour.
 
Small mills ran at 7.9% of their capacity and medium and large mills at 43% in May.
 
Wheat consumption for various uses was estimated to be 9.517 million MT in May. Wheat inventory was 43.237 million MT at the end of May, suggesting a monthly stock index of 4.5.
 
The inventory consisted of 24.61 million MT state reserve, 8.56 million MT flourmills’ stock and 8.66 million MT on-farm stock.
 
Wheat price was RMB2,429/MT in May, up 12.91% on the year-on-year basis.
 
In the 2013/2014 crop year, wheat production and imports are predicted to be 114 million MT and 3.8 million MT respectively. Wheat production may be affected by adverse weather, creating a demand for more wheat imports. Wheat price is predicted to be RMB2,433/MT, up 7 ~ 8% on the year-on-year basis.

  

From “China Grains Market Weekly Report”