PARIS, FRANCE — France’s soft wheat exports outside of the E.U. are expected to increase 14% to a four-year high in the 2019-20 crop year, according to FranceAgriMer.
Exports of soft wheat are estimated at 11 million tonnes, the highest since 2015-16, Reuters reported, citing the first supply and demand outlook for the crop year.
France had a rare shipment of wheat to China at the beginning of the season, and traders are hopeful French wheat will regain market share in West Africa and see extra demand from Morocco, which had a poor harvest.
However, competition from the Black Sea and possibly Argentina could cap exports, Reuters said.
Officials are estimating France has harvested its second-largest soft wheat crop on record. FranceAgriMer estimated the crop at 39.45 million tonnes, about 16% higher than last year’s total.
Within the E.U., French soft wheat exports are expected to increase 14%. Domestic demand is expected to also increase due to a 21% rise in animal feed use.
Despite demand, French soft wheat stocks are also estimated 32% higher to 3.3 million tonnes, a four-year high.