EU may increase imports of high-quality wheat from Canada

Premiums for high-quality wheat are increasing in the EU and there is expected to be a strong demand for North American wheat in this market. The decline in crop quality was caused by heavy rainfall in late spring, leading to a 54% increase in wheat purchases from Canada in the European Union. Analysts forecast Canada's wheat exports to reach 19.8 million tons in 2023/24 MY.

11 September 2023

Premiums for high-quality wheat are rising in the EU and good demand for North American spring wheat is expected in this market, The Western Producer reports.

In particular, there is a growing problem with wheat quality in the EU, especially in Poland, which is the main producing country for high protein wheat.

Also, according to Areté, heavy rainfall at the end of the spring period resulted in a significant deterioration in the quality of crops of both soft wheat and durum wheat. Moreover, rainfall delayed the July harvest in Germany, Poland, Denmark and northern France. Adverse weather conditions also had a negative impact on the quality of wheat in Italy and Spain.

Against this background, European importers may increase purchases of wheat with a protein content of 13-15% from Canada.

Thus, Agriculture Canada analysts expect that Canada can repeat the export success of the 2022/23 season, when the country shipped 20 million tons, and export 19.8 million tons of wheat in 2023/24.

As noted, in the period from July 1 to August 28, EU countries increased purchases of wheat from Canada by 54% per year.

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EU may increase imports of high-quality wheat from Canada

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