Australia slashes wheat forecast essay

Drought slashes EU wheat, export surplus to be cut

It would be the second consecutive drought-affected harvest in Australia, which last year brought in only 9. It said new port facilities built over the past five years had added 4Mt to capacity. ABARES forecasts Australian beef and veal exports will tumble 10 percent year-on-year, owing to lower supply in the first half ofmirroring a similar decline in the national cattle slaughter.

Storage and handling operator Viterra, a division of Glencore Agriculture, said its rail and road network had been working very efficiently in out-turning grain from upcountry sites to port and had been meeting all of its export requirements.

This decline represents an expected return to normal consumption of feed wheat after a record harvest.

Australian wheat crop forecast to reach 24 million tonnes: Australia is the second largest exporter of wheat after the US. At the same time harvests are declining across the world. Prices have soared on the back of fast-growing demand and a series of poor harvests in countries around the world.

Australian barley exports at 5. In the year ending July 1,cotton production in Australia is forecast to reach onlytonnes down from a March forecast oftonnes, according to the latest quarterly update from the Australian Bureau of Agricultural and Resource Economics and Sciences ABARES.

The report said demand for malting barley was expected to be stronger over the year, with lower supplies from some other countries. Australian trade sources report that export performance has been anything but poor.

The time for cheap food is over. Like many developing countries, Pakistan is fighting food-fuelled inflation. Other emerging countries in the market to increase purchases of wheat include Egypt, Morocco, Algeria, Iraq and India. Even with relatively low domestic prices, sales to pig, chicken and dairy industries could be expected to increase, especially as international prices remain very low, while port congestion and costs have increased.

Mehdi Chaouky, an analyst at Diapason Commodities Management, said yesterday: Unable to find enough food or water for their cattle as the El Nino turns major grazing regions into parched wasteland and beef growers have been slaughtering cattle and sheep at record levels, reducing the size of the Australian herd to its lowest in almost 20 years.

Flagging demand from China and other export markets, as well as domestic consumers, has fuelled the foreseen softening of values. Editing by Michael Perryg.

UPDATE 1-Australia cuts farm commodity forecasts due to El Nino

Meteorologists warn the current El Nino, the second in five years in Australia, will persist until the end of the year.Australia, normally the second-largest wheat exporter in the world, usually produces wheat crops of around 25 million tons.

The bureau also cut its barley forecast by 15 percent to 5 million tons, and the nation's canola crop forecast by. In Australia, the commodity markets for wheat hit a formidable loss, as an ongoing drought reduced the predicted crop forecast by a crushing 30%.

Australia being the second largest wheat exporter in the world, only behind the United States of America, plays an important role in the distribution of food. SINGAPORE (Reuters) — Australia’s wheat crop forecast has been lowered, the Australian Bureau of Agricultural and Resource Economics and Sciences said, after recent storms damaged the.

Drought slashes EU wheat, export surplus to be cut French analysts Strategie Grains forecast a 10 percent smaller EU soft wheat harvest this year, with northern areas particularly hard hit. The Australian Bureau of Agricultural and Resource Economics has cut its wheat production forecast for the (October-September) marketing year by almost 11% from its June estimate to The sharp reduction on its last estimate made in June provided another boost to wheat futures, which have doubled in the past year.

The Australian Bureau of Agricultural and Resource Economics said output in the harvest that begins in October might be only m tonnes, compared with its earlier forecast of m.

Australia slashes its wheat forecast Download
Australia slashes wheat forecast essay
Rated 4/5 based on 30 review