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| According to statistics, China¡¯s flour production was 7.604 million MT in June, 4.83% more than the month before and 5.5% more than the same period of last year. Flour production totaled 38.642 million MT in Jan. ~ June, a growth of 4.41% on the year-on-year basis.
Wheat consumption for flour production was estimated to be 9.638 million MT in June. Wheat inventory was estimated to be 137.67 million MT at the end of June, representing a safety index of 13.4.
Of the inventory, 73.81 million MT were on-farm stock, 45.7305 million MT were procured at the protective price, 11.96 million MT were state and provincial reserve, 3.4 million MT were wheat-processing enterprises¡¯ stock and 4 million MT were commercial stock.
Considering the current weak season of flour consumption, flourmills may ran at lower capacity in July ~ Aug. |