Australia achieves second highest harvest: 28% above long-term average The Australian Department of Agriculture announced in its latest publication the preliminary results of the Australian grain harvest which is coming to an end. At 55 million t , the best result so far was not quite achieved in 2016/17, but at + 28% it remains above the long-term average. The basis for the unusually high production is the favorable weather conditions with sufficient rainfall in the majority of the cultivation regions. Wheat production doubles compared to the previous year to 31.2 million t. Of these, approx. 75% exported. Australian wheat is valued worldwide for its excellent quality. This could cover China's imports, which have hitherto been price-driving. Barley production increases by 33% to 12 million t. In this case, export to China can be ruled out because the Chinese levy an import tax of 82%.Strongly increasing harvests are also expected for the other small cereals. The rapeseed harvest is of particular importance with a result of 3.7 million t. Conclusion: The extraordinarily high Australian grain harvest with its high export shares will put a strong damper on the previous international price increase.
