The Australian wheat and barley area is expected to expand in the 2024/25 marketing year due to favorable weather conditions in the growing regions and strong demand for this crop from China following the abolition of punitive tariffs. At the same time, rapeseed acreage in the country could decline due to lower yields and dry weather conditions in Western Australia, Reuters reports.
Australia's wheat area is expected to increase by 1 to 3 percent annually and barley area by 3 to 15 percent, while rapeseed area could decline by 4 to 20 percent as drought in Western Australia is expected to cause the most damage to oilseeds.
The expansion is expected to boost production of these cereals in the 2024/25 season - market participants estimate that the wheat crop could be 26-29,9 million tonnes and the barley crop could be 11,5-12,8 million tonnes, while rapeseed production could increase by around 0,7, 1-4,6 million tonnes could fall to 5-XNUMX million tonnes.
Source: APKinform (Ukraine)