September 6, 2024

 

Australia expects more than 30 million metric tons of wheat in next harvest

 

 

Australia should produce 31.8 million metric tons of wheat in its upcoming harvest, the government said on September 3, raising its forecast by 2.7 million tonnes following rain in key cropping regions.

 

The government added that the country would produce about 700,000 tonnes more barley and 100,000 tonnes more canola than it thought three months ago.

 

"Winter crop production is forecast to rise to near-record levels in New South Wales and Queensland," the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), part of the agriculture ministry, said in a quarterly report.

 

Improved conditions in Western Australia meant above-average production there but dry weather in South Australia and Victoria would cause below-average yields in those states, it said.

 

The ABARES forecast for wheat is slightly larger than analysts' predictions and implies production around 20% above both last season's crop and the 10-year average.

 

Three months ago, ABARES forecast production in 2024/25 of 29.1 million tons of wheat.

 

However, ABARES said wheat exports would likely fall to 20.9 million tonnes in 2024/25, down 7% from 2023–24 but 10% above the 10-year average, as stockpiles from the record harvests of the early 2020s had been drawn down.

- Reuters