Australian wheat production expected to soar to new record

Australia’s wheat production for 2020-21 is expected to hit a new record.

The latest WASDE report forecasts higher Australian wheat production. Picture: Zoe Phillips

AUSTRALIA’S wheat production forecast for 2020-21 has lifted a massive three million tonnes this month.

The March World Agricultural Supply and Demand Estimates report has put the nation’s wheat production at 33 million tonnes.

The February WASDE report forecast 30 million tonnes.

The new estimate takes Australia’s production to a new record, surpassing the previous 2016-17 record of 31.8 million tonnes.

For the global 2020-21 wheat outlook, the WASDE report forecasts larger supplies, increased consumption, higher exports and reduced stocks this month.

“Global production is increased to a record 776.8 million tonnes, mostly on higher Australian production on the latest Australian Bureau of Agricultural and Resource Economics estimate,” the report said.

Meanwhile, 2020-21 global trade is raised 2.9 million tonnes to a record 197.7 million tonnes, mostly on higher exports by Australia and Canada, according to the WASDE report.

Australia’s exports are raised on greater exportable supplies and Canada’s are increased on a “continued strong pace”.

The WASDE found the largest import changes for March were for China and Pakistan, where imports are raised to 10.5 million tonnes and 3.4 million tonnes, respectively.

And imports for both countries are coming in significantly higher than their 2019-20 imports.

MORE

MICE PROBLEM TIPPED TO WORSEN AS NEW CROPS GO IN

RAINFALL LIFTS CROP QUALITY IN VICTORIA, NSW