The latest trade data published by HMRC revealed that the UK was a net importer of wheat in March for the fourth month running. Wheat imports in March were 168.5Kt, the second highest for the season so far. Wheat exports in March, however, were the lowest monthly total since June 2015, at 71.2Kt.
On a cumulative basis, the UK was still a net exporter of wheat in March with total exports (Jul-16 to end Mar-17) amounting to 1.32Mt, while total imports during this period equalled 1.27Mt. However, if the trend shown in the graph below continues, it is likely that figures for April will show the UK as a net wheat importer on a cumulative basis. This is not surprising given the tight UK wheat supplies this season.
Maize imports in March were also high (183.9Kt), bringing the cumulative total for the season until end-March to 1.41Mt (compared with 1.37Mt by this point in time last season). Barley exports in March were higher than in January and February, at 92.3Kt. Cumulative UK barley exports by end-March were below last year’s pace (0.89Mt compared with 1.55Mt last year).
This article was supplied by Dr Amandeep Kaur Purewal / Senior Analyst (Cereals & Oilseeds) Market Intelligence, Agriculture & Horticulture Development Board