August 13, 2010
Australia may up wheat exports amid Russian ban
Australian wheat exports are forecast to rise significantly, as it is among the nations to fill the void left by Russia's export ban, according to the latest World Ag Outlook report by the USDA.
World Ag Outlook Board chair Gerald Bange says the report puts wheat losses from Russia, Ukraine, Kazakhstan and the EU at 15.3 million tonnes, with the US replacing 5.4 million tonnes of that.
"And then we have, approximately, four million tonnes being exported by Australia, EU, Turkey and China." He estimates a million tonnes will come from Australia.
Bange says the remaining six million tonnes will be made up through lower trade from higher prices.
