These are the data that emerged from the Durum Days in Foggia, the usual international event with all the main protagonists of the sector
May 16, 2024 – In 2024, according to CREA forecasts, national production of durum wheat should be around 3.5 million tonnes, with a decrease of 10-15% compared to the long-term average and a decrease of 8% on a annual. The unfavorable climatic conditions, which mainly affected the southern cultivation area, significantly affected the decline in production, in addition to the reduction in the cultivated area and the difficulties linked to international tensions; In fact, the situation in Sicily is very complicated, especially when compared with last year’s production, as is that of Puglia and Basilicata, whose production potential has been partly compromised. In all the rest of the Italian regions, however, cultivation conditions are excellent and production estimates are very good. In these areas the only unknown is linked to the weather conditions in the coming weeks, which could compromise the phytosanitary status of the crop.
This is what emerged from an initial analysis of the expected durum wheat production forecasts in Italy and around the world presented today at the Foggia Chamber of Commerce, as part of the 2024 edition of Durum Days, the international event organized by the main protagonists of the sector, just under a month after the start of harvesting operations in the fields. The initiative is organized and promoted by Assosementi, Cia-Italian Farmers, Confagricoltura, Copagri, Fedagripesca Confcooperative, Compag, Italmopa and Unione Italiana Food, with the patronage of Siga (Italian Agricultural Genetics Society), the collaboration of Crea and the participation between the speakers from Areté and ICG (International Grains Council) and the sponsors Basf and Corteva.
Compared to the international picture of world wheat production, outlined by Areté analysts, after last year’s decline, durum wheat production at a global level this year is globally seen as recovering, with increases in the order of 10%, thanks to the major productions of important exporting countries: Canada (+40%), United States (+25%), Russia (+20%), Turkey (+5%). These are increases that will contribute to increasing the final stocks of durum wheat at a global level by values even higher than 8-10%, a percentage that represents the consensus figure of analysts. However, closing inventories will remain far from long-term averages. This context explains well the reasons why prices will remain far from the peaks recorded in recent campaigns, while remaining at historically high values.
. UPWARD FORECASTS IN NON-EU COUNTRIES, CANADA (+40%) – PugliaLive – Online information newspaper){kind=link}