World Grain - December 2011 - 15

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FAO: Iran’s wheat production flat in 2010
TEHRAN, IRAN — Wheat production in Iran reached about 13.5 million tonnes in 2011, indicating no change compared to the ﬁgure for 2010, according to a UN Food and Agriculture Organization (FAO) report. According to the report, about 691 million tonnes of wheat was produced worldwide since the beginning of 2011, showing a growth of 6% from the ﬁgure for 2010, which was 651 million tonnes. Iran imported 1.3 million tonnes of wheat in the current year which shows an increase of 100,000 tonnes compared to the ﬁgure for the previous year which was 1.2 million tonnes. According to the report, total wheat reserves of the country dropped from 3 million tonnes in 2010 to 2.1 million tonnes in the current year. Iran produced 3.7 million tonnes of barley in 2011 and the ﬁgure shows no change compared to the amount for 2010. The report put the amount of Iran’s barley imports in 2011 at 400,000 tonnes, which is equal to the ﬁgure for 2010. Iran’s corn production also rose 30% from 1 million tonnes in 2010 to 1.3 million tonnes in 2011. A growth in domestic corn production helped reduce the imports of corn to Iran from 3.4 million tonnes in 2010 to 3 million tonnes in 2011. Production of other types of grain in Iran increased from 4.7 million tonnes in 2010 to 5 million tonnes in 2011. According to the FAO about 2.325 billion tonnes of grains have been produced in the world since the beginning of 2011, representing an increase of 3.7% compared to the ﬁgure for the past year, which was 2.241 billion tonnes.

Corn Products reports strong third-quarter earnings
WESTCHESTER, ILLINOIS, U.S. — Corn Products International, Inc. on Oct. 27 reported signiﬁcant increases in both reported and adjusted earnings per share. The company reported a proﬁt of $87.7 million or $1.12 a share, up from $36.9 million or 48¢ per share a year ago. “Corn Products delivered another very good quarter building on our strong ﬁrst-half 2011 performance,” said Ilene Gordon, chairman, president and chief executive ofﬁcer. “We are pleased with how well our businesses have navigated challenging macroeconomic conditions and have remained focused on successfully executing our plans. Our risk management approach has helped us weather volatile raw material markets and kept us on track to deliver our goals. In each of our regions, we have achieved signiﬁcant though appropriate price increases to offset higher input costs. “At the same time, the integration of National Starch continues on plan and represents a shift in our product mix toward higher-value, more functional ingredients largely for the food industry. Having now owned National Starch for a full year, we continue to be enthusiastic about the combination of the two businesses.” Net sales jumped 58% to $1.71 billion, or $1.63 billion, after shipping and handling costs.
For more information, see Page 86.

Correction
The cover photo caption in the October issue of World Grain included incorrect information about the location of the port facility. The facility is located in Mannheim, Germany. World Grain regrets the error.
www.World-Grain.com / World Grain / December 2011 15

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World Grain - December 2011

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