The wheat market in the EU countries has rebalanced, focusing on domestic consumption.This was reported by Oleksandr Solovey, commercial director of Spike Brokers, in his article for The Ukrainian Farmer.According to him, the EU is expected to reduce wheat imports, reducing them by 58% compared to last year. At the same time, European wheat exports have also decreased by almost 50% compared to the previous period.“This means that the EU market has rebalanced and is now focused on domestic consumption.
Although Ukrainian wheat will be less in demand on the European market, the reduction in export shipments from the EU frees up space for our grain in traditional European markets: North Africa and the Middle East,” Oleksandr Solovey noted.
Source: https://agroportal.ua/news/mir/mensha-prisutnist-yes-na-svitovomu-rinku-zvilnyaye-misce-dlya-ukrajinskoji-pshenici
