Flour Production & Wheat Consumption in Aug.

By CnAgri2013-09-29 11:39:30 Print

Flour production by medium and large mills was 10.953 million MT in Aug., 0.6% less than the month before but 6.4% more than the same period of last year. Flour production totaled 84.696 million MT in Jan. ~ Aug., an increase of 7.13% on the year-on-year basis. The promulgated figures showed a flour production growth of 3.19% in Aug. and 8.24% in Jan. ~ Aug., both on the year-on-year basis.

Deducting repetitive statistics, BOABC estimates that flour production and paddy consumption were about 6.39 million MT and 8.635 million MT respectively in Aug.

Small mills ran at 22.9% of their capacity and medium and large mills 45.4%.

Wheat consumption for various uses was 9.867 million MT in Aug. wheat procurement and imports were 117.3 million MT and 418,000 MT respectively in Aug. Wheat inventory was 122 million MT at the end of Aug., suggesting a stock index of 12.3, both below the same period of last year.

The Aug. inventory consisted of 49.37 million MT state reserve, 12.95 million MT flourmills’ stock and 51.64 million MT on-farm stock.

Wheat price was RMB2,435/MT in Aug. and RMB2,421/MT between May of 2012 and Aug. of 2013, up 14.67% and 13.54% respectively on the year-on-year basis.

Wheat production and imports are estimated to be 117 million MT and 4.3 million MT respectively in 2013/2014. Wheat consumption is predicted to be 125 million MT in the year, including 11 million MT for feed use. Year-end wheat inventory and safety index are predicted to be 39.587 million MT and 31.8%, both slightly less than last year. Wheat price is predicted to rise 7 ~ 8% in the year.