Grain: World Markets and Trade
Foreign Agricultural Service Circular Series
Australian Wheat Exports Surge
As Exportable Supplies Recover
Australian wheat exports (marketing year) will nearly double this year to
17.5 million tons due to markedly larger exportable supplies. Wheat
production is forecast at 24 million tons, an increase of over 14 million
tons from last year’s drought-devastated crop. While production in other
major wheat supplying countries - the United States, Canada, and Argentina
- will also recover from last year’s low levels, only Australian and
U.S. exports are expected to exceed 2001/02 levels.
Australia will export more to some Asian markets because of less competition from nontraditional exporters, particularly India. As higher prices, transportation problems, and government policies reduce India’s competitiveness, exports are forecast to drop from 5 million tons to 2 million. Australia had already made sales to key Mediterranean markets such as Egypt. Its market share in this region is expected to increase as wheat from the Black Sea region and EU is less available. With prospects of a near-record harvest, Australia’s competition with the United States is expected to intensify.
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Beginning with the January 2004 issue of the Grain: World Markets and Trade circular, printed versions will no longer be published. The online issue of the circular, which includes Summary Tables, Situation and Outlook reports, and Historical Data Series for Selected Regions and Countries, will be available via the FAS Web site (http://www.fas.usda.gov/grain/).
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Last modified: Thursday, November 13, 2003