World Economy

Wheat Export Outlook Bearish

Wheat Export Outlook BearishWheat Export Outlook Bearish

Farmers fear the country will be unable to export enough wheat this season to rein in the stockpile and a failure means new crop risks rotting in fields instead of being sold on world markets to cash in on good prices, NewsNow reported. In March, farmers will begin to harvest the wheat crop expected to exceed demand, and when threshing is over in May stocks are set to hit 27m tons. Pakistan is likely to produce 26m tons of wheat this season. Last year, the country produced 25.29m tons. Traders said the country may miss a target to export 1.2m tons of wheat this year.