Australia lowers 2023-24 wheat export forecast

Published Oct 10, 2024

Tridge summary

In August 2024, Australian wheat exports saw a 18% decrease from the previous month, totaling 1,212,229 tonnes, with durum wheat making up a small percentage of the exports. The majority of container exports were sent to South Africa, Thailand, and Malaysia, and the largest markets for Australian wheat in August were the Philippines, Indonesia, and Yemen. Lachstock Consulting predicts that Australia will export approximately 1.8 million tonnes of wheat in August and September 2024, contributing to a total of 19.5 million tonnes of wheat exports for the 2023-24 season. However, the country's wheat production estimate for 2023-24 has been reduced to 30.3 million tonnes due to drought conditions in several regions, aligning with other industry estimates of around 30 million tonnes.

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

Original content

In August 2024, Australian wheat exports totalled 1,212,229 tonnes, including 2,844 tonnes of durum wheat. The total export volume was down 18% from 1,478,178 tonnes, including 2,503 tonnes of durum wheat exported in July 2024, reflecting the usual seasonal decline in the year ending 30 September 2024 in Australia. Total container exports in August 2024 amounted to 222,804 tonnes, with South Africa the leading destination (55,000 tonnes), followed by Thailand (35,272 tonnes) and Malaysia (33,741 tonnes). In August 2024, wheat exports to the three largest markets were the Philippines (245,012 tonnes), Indonesia (222,498 tonnes) and Yemen (104,690 tonnes). According to Lachstock Consulting's September Wheat Supply and Demand Report, Australia will export around 1.8 million tonnes of wheat in August and September 2024, bringing Australia's total wheat exports in 2023-24 to 19.5 million tonnes. On 24 September 2024, Lachstock released its latest ...

Source: Vinanet