Australian wheat could potentially take a bigger slice of the Asian cake and biscuit market in the coming years.
Watchers of wheat stock and production numbers saw something big reverberate on January 8 when the Australian Bureau of Statistics (ABS) survey data for last year’s crop area and production were released.
Western Australia’s CBH Group has reported a record surplus before rebates of $247.6 million for the year ending 30 September 2017, and a grain intake of 13.2 million tonnes (Mt) in the 2017/18 harvest which is now in its final days.
Global wheat production for 2017/18 is set to reach a record 757 million tonnes (Mt), driven primarily by a larger crop from Russia, according to the latest report from the United States Department of Agriculture (USDA).
Major bulk handlers in Australia’s eastern states have received close to 11 million tonnes (Mt) of grain from the current harvest as activity in all regions winds down.
Nidera’s report this week comes from Luke Mason, senior wheat trader COFCO International, who tells us that with harvest all but done nationally, the market is now looking to confirm the size of Australia’s wheat crop and to determine trade flows for the exportable surplus.
It was always going to be a tough ask for 2017 to match the extraordinary cropping year of 2016 when Australia produced a record winter crop of 59.1 million tonnes (Mt). From a brutal summer that knocked the stuffing out of crops to a ‘mixed bag’ winter cropping season across Australia, and from research breakthroughs to glyphosate reprieves, Grain Central wraps up the year that was for Australia’s grains and cropping sector.
South Australian growers have delivered 1.2 million tonnes (Mt) of grain in the week to 17 December to bulk handler, Viterra, to take the state total to 4.8Mt, while GrainCorp reports the Victorian intake at 2.43Mt has now shot past the NSW figure of 1.98Mt.
Western Australian bulk handler, CBH Group, has lifted its crop estimate for the state’s current harvest to 12.7-13.2 million tonnes.
The CSIRO has created a type of wheat that’s high in an important component of starch called amylose, which means consumers can have a much higher fibre diet without changing eating habits.