French Agriculture Agency lowers 2024/25 corn export forecast, lowers final inventory

The French Agriculture Agency (FranceAgriMer) has released a monthly report, slightly lowering its forecast for French corn exports for 2024/25 (July to June) due to a reduction in exports to other EU member states; At the same time, the final inventory of French corn was lowered.

This month, it is expected that France's corn production for 2024/25 will be 14.066 million tons, which is consistent with the January forecast and an increase of 16.7% compared to 12.056 million tons in 2023/24. The expected planting area for corn is 1.507 million hectares, which is the same as last month's forecast and an increase of 24% compared to the previous year, helping to offset the impact of a 5.9% decrease in yield. The yield of corn in France is 9.33 tons per hectare, lower than the previous year's 9.92 tons.

The estimated import volume of corn in France is 280000 tons, higher than last month's forecast of 250000 tons and a decrease of 13.4% compared to the previous year.

The estimated export volume of French corn for 2024/25 is 4.571 million tons, a decrease of 1.1% from the previous month's forecast of 4.622 million tons, but an increase of 8.4% from the previous year's 4.217 million tons, and a 10% year-on-year increase from the previous month's forecast.

The estimated corn export volume from France to other EU member states is 3.971 million tons, lower than last month's forecast of 4.022 million tons, but an increase of 8.6% compared to last year's 3.658 million tons, and a 10% year-on-year increase in last month's forecast.

The estimated export volume of corn to third countries is 500000 tons, which is consistent with last month's forecast and an increase of 8.9% from the previous year's 459000 tons.

The estimated final inventory of corn is 2.768 million tons, a decrease of 1.1% from last month's forecast of 2.799 million tons, an increase of 38.8% from last year's forecast of 1.994 million tons, and a year-on-year increase of 40.4% from last month's forecast.