Australia's 2023/24 wheat crop seen around 25 mln tonnes - Graincorp
02/03/2023 03:41
SINGAPORE, March 2 (Reuters) - Australia's 2023/24 wheat
crop is likely to be around 25 million-26 million tonnes, a
senior executive of Graincorp Ltd GNC.AX said on Thursday,
after three years of record production in the world's
second-largest exporter of the grain.
"We are looking at a year of average rainfall," Michael
Jester, the firm's Asia trading director, said at an industry
conference in Singapore.
Australia's wheat crop is likely to face risks from dry
weather due to El Nino weather pattern in the second half of
2023, a consultancy said on Wednesday.
"Planting window is between April and June, soil moisture
level is good for planting," Jester said.
Australia, blessed by ample rainfall and higher planting,
produced record wheat crops for three years.
In the year through June 2023, wheat production is forecast
to reach 36.6 million tonnes, a 1% increase over the previous
record set last year.
Importers in the Middle East and Asia, led by Indonesia -
the world's No. 2 wheat importer - are key buyers of Australian
grains.
(Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)
((naveen.thukral@thomsonreuters.com; +65-6870-3829; Reuters
Messaging: naveen.thukral.thomsonreuters.com@reuters.net))