AUSTRALIA exported 436,507t of wheat in July, down 58 per cent from 1.04 million tonnes (Mt) in June, according to the latest data from the Australian Bureau of Statistics (ABS).
Japan on 86,164t was the biggest buyer in July, followed by Malaysia on 75,782t and South Korea on 59,181t.
Thomas Elder Markets manager commodity markets insights Andrew Whitelaw said the July tail-off in Australian wheat export volumes was not usual following the busiest shipment months from January to June.
“In general, we get large volumes of our grain out of the country ahead of the northern hemisphere harvest,” Mr Whitelaw said.
“Last year was not an average year, with drought impacting overall volumes; this meant that we had less volume available for export, and the pantry is now looking very sparse.
“At present export markets are concentrating on the volumes available from the new harvest, with record export pace being seen in Russia at the moment.”
Mr Whitelaw said exports from Australia were likely to remain constrained until new crop became available.
In its latest monthly report issued 1 September, South Australia’s major bulk handler Viterra put wheat stocks at 151,295t, down from the 1 January peak of of 1.83Mt.
In Western Australia, CBH Group on 2 September reported wheat stocks at 243,215t.
Steady shipment programs from CBH and Viterra terminals, and some smaller operators, over coming months will run down Australia’s wheat stocks to a bare minimum prior to new-crop shipments starting in small amounts in November.
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Table 1: Australian bulk wheat exports for May, June and July 2020. Source: ABS
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Table 2: Australian containerised bulk wheat exports for May, June and July 2020. Source: ABS
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