Due to the excellent rainfall in India, the wheat production is expected to reach record levels. In 2020, the wheat production was 107.6 million tons and this is the current record.
According to MPOB data, palm oil stocks in Malaysia increased by 4.68% to 1.32 million tons in January, palm oil exports reached 947,400 tons (-42.3%) and palm oil production was 1.13 million tons (-15.5%).
According to Statistics Canada, canola stocks in Canada were 12.14 million tons as of 31.12.2020, which is 24% less than the previous year and the lowest level for the last 8 years.
Starting from 01.04.2021, Russia introduces an export tax on wheat at the amount of 70% of the difference between a base price of wheat per ton and 200 USD/ton.
According to the forecast of S&P Global Platts, the wheat production in the EU+UK will reach 147 million tons in 2021/22, which is 8% more than the previous season.
