Australia to harvest abundant wheat

Australia to harvest abundant wheat

According to a January 26 report by Australia’s Department of Agriculture, Australia is expected to produce its second largest wheat crop in 2020-21, more than doubling last year’s drought-hit estimate to over 15.2 million tonnes. . The projected crop for this year of 31 million tonnes, if carried out, would rank second after the 2016–17 season, when around 33 million tonnes of wheat was harvested.

The report states that Grencorp, the largest grain handler in the New South Wales region, is reporting a huge increase in wheat revenue with the company achieving 8.4 million tonnes compared to just 500,000 tonnes in mid-January. “This is a major change, which strongly supports Australia’s 31 million tonnes wheat production forecast,” the report said.

Australia is expected to more than double its wheat exports this year with 21 million tonnes. The report said that this would be the third time the last time wheat exports crossed 20 million tonnes in 2016-17, when 22.5 million tonnes were exported.

A major Australian wheat importer from China threatened to ban wheat in addition to barley and other products in December due to a growing diplomatic conflict between the two countries, but China has not yet formally announced the ban.

The report noted that Australian wheat exports to Southeast Asian countries such as Indonesia and Vietnam are expected to grow strongly. According to the report, the Philippines, South Korea and Japan will also see significant wheat shipments from Australia in 2020-21.

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About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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