PARIS, November 26 (Reuters) – Incomplete data on wheat exports from France, the largest supplier to the European Union, over the past four months due to a technical glitch has angered traders as they try to keep track of the supply and demand in the face of declining stocks and record prices.
The technical problem at the level of the country’s customs service, which submits data for France to the European Commission, is becoming a major problem as the EU experiences a rapid start to the 2021/22 export season.
EU wheat prices hit record highs this week as potential rain damage to the Australian crop raised the prospect of larger-than-expected EU exports. GRA / EU
The latest weekly Commission update released on Tuesday showed that the 27 EU countries had exported 10.27 million tonnes of soft wheat, or soft wheat, since the start of the season on July 1. EUGRA / EXIM
However, the Commission’s EU total includes just over 822,000 tonnes of French exports compared to around 3.2 million tonnes in loading data compiled by Refinitiv. FRESH WHEAT / PORTS
This suggests that EU soft wheat exports so far this season are around a quarter above the level indicated by the Commission.
The data problem means the Commission has not released full French data since July.
France’s customs service is working on the outage, linked to a database change, and it should be resolved in the coming weeks, an official from the French finance ministry said.
The technical issue also affected data for other cereal crops, including major French barley exports. FRBARLE / PORTS
Traders who track EU grain flows say they are particularly frustrated by the lack of weekly information as French customs have managed to publish full data in their monthly trade updates. FREXPORT / WHEAT
Traders have also had their patience tested before.
In the 2020/21 season ended on June 30, weekly EU data has been repeatedly delayed by technical errors, while Britain’s exit from the bloc has added to the difficulty of comparing figures. current and past volumes.
Disparities in the asymmetry of data 2021/22 Volumes of French soft wheat exports outside the EU https://tmsnrt.rs/3p72H4B
Disparities in French data bias 2021/22 EU soft wheat export volumes https://tmsnrt.rs/3xpev5I
(Reporting by Gus Trompiz, Forrest Crellin and Leigh Thomas in Paris, Michael Hogan in Hamburg; editing by Barbara Lewis)
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