UK wheat stocks forecast to decline

With an anticipated 10% decline in production, and consumption expected to increase, wheat stocks in the United Kingdom in the 2023-24 marketing year are forecast to decrease, according to a report from the Agriculture and Horticulture (AHDB).

Total wheat availability is forecast at 17.3 million tonnes, down 1.3 million tonnes from 2022-23. Production for 2023-24 is seen at 14 million tonnes, nearly 1.5 million tonnes lower than the previous year.

The UK-based agency sees wheat consumption rising in both the human and industrial (5%) and animal feed (up 3%) sectors. Consumption is projected to increase by 534,000 tonnes over 2022-23 levels, rising to 15.1 million tonnes.

The report noted that barley stocks are expected to increase even though production is forecast to fall by 5%. This is partially due to a 3% decline in animal feed consumption, the AHDB said.

Barley stocks in 2023-24 are projected at 8.3 million tonnes, approximately 101,000 tonnes lower than the previous season, the AHDB said. Production is seen declining 404,000 tonnes year-on-year to 6.9 million tonnes.

Tags: wheat, stocks, UK