Australia's wheat crop to fall by more than a third

Published Jun 6, 2023

Tridge summary

The Australian Bureau of Agricultural Resources and Economics (ABARE) forecasts a significant decrease in winter crop production for Australia due to an upcoming drought caused by El Niño, with wheat production expected to drop by over 30%. The total winter crop gross output is predicted to fall by 34% to 44.9 Mt, below the ten-year average. This will likely force Asian millers to seek alternative sources as they have relied heavily on Australian wheat for the past three years. The drought is also expected to impact rice and palm oil production in Southeast Asia. While the planting area for winter crops in Australia is expected to decrease, the area for barley is predicted to grow due to its drought tolerance.

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

Original content

The Australian Bureau of Agricultural Resources and Economics (ABARE) predicts that Australia's winter crops will be well below last year's record, with wheat production down by more than 30%. According to forecasts of meteorologists, due to the climatic phenomenon El Niño, a drought will hit Australia, which will undermine crop yields. This is reported by the Grain On-Line agency. According to ABARE's forecast, Australia's 2023/2024 winter crop gross output will fall by 34% to 44.9 Mt, about 3% below the average over the past ten years. Wheat and barley production will decrease by 34% and 30% compared to last season to 26.2 million tons and 9.9 million tons, respectively. Both figures are below the average for the last ten years. The canola crop will decline by 41% to 4.9 million tonnes, but will remain 15% above the decade's average. “For the past three years, millers in Asia have had ample supplies from Australia, but next year they will have to look for alternative sources,” ...

Source: Zol