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Copa-Cogeca released new EU grain harvest estimates revealing a 1% production drop in this years EU cereals harvest.
Ian Backhouse, Chairman of Copa-Cogeca Cereals Working Party said “The figures for 2011/12 show a 1% decrease in production, compared to last year, reaching 272 million tonnes. Sharper declines of 3.5% and 4.4% are seen in EU wheat and barley production whilst maize production estimates are good. But in view of the drought this year which has affected large parts of the EU, the estimates are still very uncertain[...]Grain stocks are low and the market situation is expected to remain tight. Cereal stocks are predicted to remain under pressure and the market will stay volatile, driven by the Russian and Ukraine harvests."
Ian Backhouse, Chairman of Copa-Cogeca Cereals Working Party said “The figures for 2011/12 show a 1% decrease in production, compared to last year, reaching 272 million tonnes. Sharper declines of 3.5% and 4.4% are seen in EU wheat and barley production whilst maize production estimates are good. But in view of the drought this year which has affected large parts of the EU, the estimates are still very uncertain[...]Grain stocks are low and the market situation is expected to remain tight. Cereal stocks are predicted to remain under pressure and the market will stay volatile, driven by the Russian and Ukraine harvests."
http://www.copa-cogeca.be/Download.ashx?ID=801351&fmt=pdf
