Canadian Wheat Farmers Plan Largest Crop in 20 Years as Demand Surges

Mumbai, Apr 26 (Commoditiescontrol): Canadian farmers anticipate the largest wheat crop in over 20 years due to the high demand for the crop this year. Statistics Canada reported that farmers plan to plant 23 million acres of wheat, a 6.2% increase from the previous year. The growth is attributed to favourable prices and robust demand for wheat.

The global wheat prices surged following Russia's invasion of Ukraine over a year ago, as Ukraine was among the leading wheat exporters in the world. Although the prices have significantly dropped from last year's double-digit highs, they still remain strong compared to the historical trends. Apart from the Ukrainian crisis, Canadian farmers faced several curveballs last year. Nevertheless, they are optimistic about the coming years, with an increase in demand for wheat expected to bolster the agricultural industry.

(By Commoditiescontrol Bureau: 09820130172)