UK wheat exports picked up in November but are still running five percent below last season, customs data showed on Wednesday. Exporters shipped 263,596 tonnes of wheat overseas in November, up from 196,404 in October.
Wheat exports for July-November were 907,989 tonnes, down five percent from 951,084 in the same period last season, according to the data. Traders, although concerned over UK wheat's competitiveness in the EU market, remained optimistic that export figures would stay strong.
"We are expecting an annual (July-June) export total of 1.9 million to 2 million tonnes," one trader said. The UK shipped 2.28 million tonnes of wheat during 2005/06, according to customs data. Shipments to Spain, Britain's most important export market, were 147,261 tonnes in November, bringing the total for the season to data to 460,203, down 16 percent from 546,340 tonnes in the same period last year.
"Other origins, namely those around the Black Sea, have been more competitive than us," the trader added. "These figures are quite positive," another trader said. "But UK wheat is still very dear at the moment, and the (British) pound's strength is not helping either."
In December, the British pound set a 14-year high against the US dollar, trading as high as 1.9847. The impact of Spain's reduced purchases were partially offset by higher shipments to several other countries including the number two market, Portugal, as well as the Netherlands and France.
Barley exports during November were 78,279 tonnes, bringing the total for the season so far to 261,870 tonnes, down 22 percent from 337,817 in the same period last year.
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