Wheat export performance expected to improve from Canada

23-Jul-2024 08:20 PM

Winnipeg. A leading market analyst and strategist of Rabo Bank says that this year there is a possibility of a great production of hard red winter wheat in the US, which could have posed some threat to Canada, but the reality is that due to the high yield rate of American wheat,

the protein content in it has decreased, due to which the flour millers of America will have to import western red spring wheat from Canada and mix it with their wheat. 

Even better news for Canada is that wheat production is likely to fall sharply due to adverse weather in Russia and Ukraine.

The countries of the Black Sea region are experiencing severe heat with high temperatures. This is having a bad effect on the crops.

Sov Ekon has estimated wheat production in Russia to fall from 929 lakh tonnes in the 2023-24 season to 841 lakh tonnes in the 2024-25 season.

Wheat production in Russia's Goston region is expected to fall sharply by 38 percent. Similarly, in Ukraine too, due to hot and dry weather, wheat crop has dried up in some areas. 

According to critics, if importers do not get sufficient quantity of wheat in major exporting countries, they will be forced to turn to Canada.

This year, a record production of 278 lakh tonnes of spring wheat is being estimated in Canada, due to which it can get good success in increasing its export. It is known that Canada is among the top five wheat exporting countries of the world.

This time, due to favorable weather conditions there, there is a possibility of a significant improvement in the yield rate and quality of wheat.