Australia crop trade shifts focus after record December

Published 2023년 2월 15일

Tridge summary

In December, Australia saw a record export of its three major crops - wheat, canola, and barley - following a bumper harvest, with wheat and canola making up 88% of the country's 4 million ton monthly agricultural export capacity. Wheat exports to China reached a record high of 2.7 million tons, with demand expected to persist due to low domestic crop yields, while canola exports tripled to 884,000 tons, primarily to the EU. However, barley exports, while hitting a monthly high of 1.08 million tons, may not be able to maintain this pace due to factors like China's import duty on barley, cheap feed-grade wheat, and the rise of canola as a cash crop. Despite these challenges, Saudi Arabia has emerged as a growing market for Australian barley. The US Department of Agriculture has increased its export estimates for Australia's wheat and barley.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australia exported record-high supplies of all three of its major crops — wheat, canola and barley — in December following a bumper harvest, but early line-up data show that wheat and canola shipments could outpace barley in the coming months. Wheat and canola exports made up 88pc of Australia’s 4mn t monthly agricultural export capacity in December, latest customs data show. Australia’s December wheat exports reached 2.7mn t, up by over a fifth on the year and a record for the month. China drove demand for Australian wheat, with trade between the two countries in December up by 150,000t on the year. China accounted for 860,000t, or just under a third, of Australia’s December shipments. And demand could remain high as China looks for opportunities to rebuild its wheat reserves at advantageous market prices. The country’s own domestic crop is dwindling, with local Chinese wheat prices reaching the highest premium to corn for the past three years. Australian exports to other key ...

Source: UkrAgroConsult