Port of Melbourne is Australia’s busiest container port. Photo: Port of Melbourne/Ric Wallis

THE Port of Melbourne has set a new record for grain exports in the year to 30 June 2024 by shipping 3.37 million tonnes. 

Major grains handled include wheat, barley, canola, cereals, and oats, as well as malted barley, with wheat taking the lead with 42,000 TEU (Twenty-Foot Equivalent Units) leaving the port in FY24. 

“Year on year FY23 to FY24, Port of Melbourne has seen a 5 percent uplift in grain exports, with grain remaining our number one export commodity at 30pc of total exports through the port,” Port of Melbourne head of business development Leatrice Treharne said. 

Grain exports experienced a 36pc compound annual growth rate (CAGR) from FY19 to FY24, representing the biggest volume of grain exports in the port’s history. In FY19, the impact of drought saw grain exports drop to 700,000t. 

They have increased since, supported by growing export volumes to China, Indonesia, and Vietnam, which combined where the destination for 49pc of total grain exports in 2024. 

China has emerged as a dominant importer of the port’s grains. 

From FY23 to FY24, grain shipments from Port of Melbourne to China rose 77pc. 

“China’s position as the dominant importer underscores the strategic importance of this trade relationship, with barley showing the strongest percentage growth year-on-year across all grain commodities,” Ms Treharne said. 

Other major grain importers include The Philippines, Japan, New Zealand, Malaysia, and Thailand, which cumulatively took 47pc of Port of Melbourne’s 2024 grain exports .

Source: Port of Melbourne