November 3, 2006

Australian wheat may yield 78 percent less for export

Australia, the world's third-largest wheat exporter, might have about 78 percent less grain available for export from the current harvest after drought cut supply, leading wheat exporter AWB said.

Wheat production in Australia might fall to a 12-year low of 9.5 million tonnes this year owing to one of the worst droughts to have hit the country. This would crimp export volumes. The AWB was yet to finish its carryover inventories of 3-4 million tonnes from the last harvest, said McBride, AWB spokesman.

Australia's total wheat exports declined by 30 percent this year from last year, according to the Australian Bureau of Agricultural and Resources Economics adding production might see a 60 percent decline this harvest.