Grain exports set to hit record high: USDA

Grain exports set to hit record high: USDA

The US Department of Agriculture’s most recent World Agriculture Supply and Demand Estimates monthly report paints a very hopeful picture for panamax bulk carrier owners.

Total export of grains in the coming marketing year is forecast to increase by another 10m tonnes to a new all-time high of 615m tonnes.

Total global wheat export is projected to increase by 2m tonnes year-on-year to a new all-time high of 181m tonnes. Total coarse grain export is expected to be on par with the current marketing year at 184m tonnes. Total global export of major oilseeds is forecast to increase with 6m tonnes to a new all-time high of 168m tonnes while the total global export of major protein meals is estimated to increase by 3m tonnes to a new all-time high of 83m tonnes. In terms of geography the greatest source of growth for exports will be from the east coast of South America.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts