The price of edible wheat rose in Hungary at the end of July

By: STA Date: 2024. 08. 06. 10:00

In the July forecast of the International Grains Council (IGC), the global wheat harvest in 2024/2025 is 1 percent higher than the previous season, at 801 million tons. for the financial year. The expected use may be 802 million tons, and 269 million tons of wheat may remain in storage at the end of the season.

(Photo: Pixabay)

According to the July information provided by the French market analysis company Tallage, the wheat harvest in the southern and southeastern European member states came to an end at the beginning of July. In these areas, with the exception of Italy, good results were also achieved in terms of yields and crop quality. The initial results are also positive in Central Europe. In Northwestern Europe, due to the rather poor barley harvest, worse wheat yields are also expected. Compared to a month earlier, the experts of Tallage revised the expected wheat harvest of the European Union upwards to 122.3 million tons, thanks to the good harvest in Bulgaria and Spain. Among the main producing member countries, France is expected to harvest 29.3 million tons of wheat this year, which is almost 16 percent less than a year earlier. 20.2 million tons in Germany (–5 percent) they can reap. In Romania, 10.4 million tons (-0.5 percent), in Poland 12.6 million tons (-4.5 percent), and in Bulgaria 6.9 million tons (+7 percent) are indicated. Spain’s output may more than double that of 2023 in 2024, to 6.8 million tons.

According to the Ministry of Agriculture (AM), almost 5 million tons of wheat were grown in Hungary in 2024, the average yield is 5.8 tons/hectare

In Hungary, according to AKI PÁIR data, edible wheat was traded at an average producer price of HUF 73.9 thousand per ton without VAT and transport costs (+15 percent) in the last week of July. At the same time, feed wheat traded at the same producer price of HUF 65.7 thousand/tonne, the same as a year earlier. The August quote for euro wheat on the Budapest Stock Exchange was unchanged at HUF 67,000/ton between July 22 and August 2. On the Chicago Mercantile Exchange (CME/CBOT), the September quotation for wheat was in the range of 192-201 dollars/ton at the same time. At the same time, the September quotation of the crop on the Paris commodity exchange (Euronext/MATIF) was between 215 and 226 euros/ton.

AKI PÁIR