Global wheat production projected at 593.1 mt

Global wheat production in 2006-07 (July-June) is projected at 593.1 million tonne, up 1.1 million tonne from last month's estimate, mainly due to higher production in India, the US department of agriculture said in its monthly report.

The report""World Agricultural Supply and Demand Estimates""released late Friday, raised India's production estimates for the year by 1.4 million tonne to 69.35 million tonne, more than offsetting a downward revision of 200,000 tonne in 25-member European Union.

Rise in production in India and Australia will also aid a 400,000 tonne rise to 121.23 million tonne in global 2006-07 ending stocks.

Global consumption was also revised upwards by 1.2 million tonne to 619.34 million tonne due to increases in India, EU-25, and Australia, the report said.

However, global wheat exports are seen down by 1 million tonne to 108.02 million tonne as lower production and rising consumption in EU-25 are expected to limit the availability for exports.