In 2022/23, Australia could harvest the second largest wheat crop

According to a survey of traders and analysts, the grain production in Australia will reach 2022-23 million tonnes in 34/36, which will be the second highest in history of observations, reports S&P Global Platts.

In particular, the gross wheat harvest in Western Australia, the country's main grain producing region, can range from 10,5 to 13 million tonnes.

Australian Bureau of Agricultural and Resources Economics analysts forecast Australia at 2022 million tonnes in 23/30,3 versus 36,3 million tonnes in 2021/22, USDA analysts at 33 (36,3) million tonnes and IKON Commodities at 35,8 .39 (XNUMX) million tons.

At the same time, analysts still have concerns about the quality of Wheat, since heavy rainfall can reduce the protein content of the grain. Therefore, production of premium wheat is likely to decrease due to heavy rainfall and flooding in New South Wales and Queensland.

The surveyed traders and analysts estimated grain exports from Australia in 2022/23 at 26 to 27 million tons, which corresponds overall to the previous year's value. USDA analyst forecast is 25 million tons versus 27,5 million tons in 2021/22.

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