Flour Production & Wheat Consumption in July

By CnAgri2013-08-27 11:08:37 Print Flour production by medium and large mills was 11.022 million MT in July, 4.6% less than the month before but 7.2% more than the same period of last year. Flour production totaled 73.743 million MT in January ~ July, an increase of 7.36% on the year-on-year basis.
 
The promulgate figures showed a flour production increase of 7.93% in July and 9.01% in January ~ July, both on the year-on-year basis. Deducting repetitive statistics, flour production and wheat consumption were 6.43 million MT and 8.689 million MT respectively in July.
 
Small mills ran at 23.1% of their capacity and medium and large mills 45.7% in July.
 
Wheat consumption for various uses was 9.935 million MT in July. Wheat inventory was 126 million MT at the end of July, suggesting a stock index of 12.7, both below the same period of last year.
 
Wheat inventory in July consisted of 47.25 million MT state reserve, 13.03 million MT flourmills’ stock and 58.32 million MT on-farm stock.
 
Wheat price was RMB2,399/MT in July and RMB2,416/MT during May of 2012 and July of 2013, up 13.08% and 13.17% respectively on the year-on-year basis.
 
In the 2013/2014 crop year, wheat consumption is predicted to be 125 million MT. Year-end wheat inventory are safety index are predicted to be 39.587 million MT and 31.8% respectively, both below the previous year. Wheat price is predicted to be RMB2,433/MT in the crop year, up 7 ~ 8% on the year-on-year basis.
 
Considering flourmills’ demand for high quality wheat, wheat imports are predicted to be 4.3 million MT in the crop year.




From “China Grains Market Weekly Report”