The unusual spectre of drought in Europe and Russia is set to impact the supply outlook for world grains and reshape Middle Eastern and Asian markets.
AGIC 2018: Collaboration and differentiation hold the keys to Australia regaining market share in the increasingly price-driven South East Asian grain market, according to Market Check general manager, Richard Perkins.
AGIC 2018: Asian wheat demand is forecast to grow by 20 million tonnes over the next 20 years, and Australia needs to increase its production to compete against attractively priced Black Sea and Argentine wheat exports of improving quality and increasing value.
Specialised Australian wheat varieties are continuing to underpin the lucrative premium noodle industries in Japan and Korea – and there are opportunities to expand demand for Australian wheat for other products.
Asia’s demand for a high-protein wheat with different end-use characteristics to Prime Hard is making the creation of a new Australian baking classification likely in coming years.
Australia needs to take a more aggressive approach to promotion and marketing its wheat and barley into Asian markets if it is to maintain, or grow, market share.
The surge of Russian wheat into Asian markets in recent years may have plateaued and is likely to ease back over coming years, according to United States Wheat Associates president, Vince Peterson.
Australian wheat could potentially take a bigger slice of the Asian cake and biscuit market in the coming years.
A new wheat variety specifically adapted to tropical and sub-tropical environments is set to offer growers in the non-traditional wheat-growing regions of far-northern Australia a high-yielding, disease-resistant cereal option.
Australia’s wheat quality and proximity to Asian markets are key competitive advantages in the changing global wheat market, where exports from Black Sea ports are already making their way into some of Australia’s key markets including Egypt and Indonesia.