Australia Wheat Exports Curbed as Dry Weather Parches Fields
Weather-hit wheat production in Western Australia and dwindling stockpiles will limit exports, straining global supplies. Wheat exports are projected to be 20.8 million tons in 2024-25, marginally above the previous season but a third less than the 31.8 million tons in 2022-23, according to ABARES. This comes as production is expected to increase by 12%, highlighting the impact of local challenges on global markets.
Weather-hit wheat production in Western Australia, the top exporting state, and dwindling stockpiles will limit the amount of the staple the nation can export in the coming year, further straining global supplies.
Wheat exports are likely to be 20.8 million tons in 2024-25, only marginally above the previous season and a third less than shipments of 31.8 million tons in 2022-23, according to data from government crop forecaster ABARES. That comes at a time when the agency expects production to increase by 12%.
Source Link: https://www.bloomberg.com/news/articles/2024-06-06/australia-s-wheat-exports-curbed-as-dry-weather-parches-fields
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