30.
08.18
08:57

Australia's buyers on the local market outperform foreign grain importers

The fertile crop-growing regions in the south and west of the Australian continent have been transporting their grain reserves to New South Wales for months, where the next grain harvest will probably yield only 1/3 of the usual amount.
New South Wales is the most populated area in Australia. There, cereals are also grown for the world market. This year, however, it has been dry so long that you know well before the actual harvest date, that there will be a crop failure and little is left for export.
Even in the south and west, there will not be a big harvest, it will take a few more months for the new crop to arrive. For so long, farmers and silo operators are selling their supplies to shoppers in the arid regions of their own country.
Since Australia is the world's fourth-largest grain exporter, buyers in the international market have to buy wheat from other regions. New South Wales is almost completely a supplier, as it can only expect 2.4 million tons of wheat, which is 1/3 of the long-term average. The neighboring state of Queensland is also constantly lowering its harvest forecasts.
Instead of serving the world market, silo operators in western Australia are now sending their supplies to the east of the continent. 16 ships with grain have already left the ports in the south and west to be unloaded in Brisbane. In 2017 it was only 1 ship.
Shoppers in other countries are out of sight. Indonesia, the largest customer of Australian grain exporters, has so far received only 1.2 million tons of wheat in 2018, which is just half the usual amount. Instead, Indonesia imported its wheat into Argentina, Canada, Ukraine and the US. From the new harvest, only very few precontracts have been closed for export.

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