According to figures just released by the BPC, stocks are just 0.5 per cent below levels for this time last year. However, this is 16 per cent above stocks held two years ago at the end of January at 2.745 million tonnes.

The crop utilisation figure for the period from harvest to the end of January is estimated at 4.255mt, about eight per cent up on the same period for last year's crop and 14 per cent above the rate two years ago.

This utilisation rate is high probably due to increased movement in the supply chain this season as purchasers respond to high waste at grade out. This was particularly high in the autumn due to weather and disease issues and also due to high levels of farm waste, reports the BPC, as some 317,000t of stocks were carried over from last season.

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