February 9, 2004

 

 

Australia's Wheat Export Availability Doubles

 

Australia's monopoly wheat exporter AWB said that the country's wheat export availability has doubled to 19 million metric tons following a record harvest.

 

The jump in export availability reflects a sharp increase in new crop production to a record 25 million tons from a drought depleted 10 million tons last crop year ended March 31, 2003, it said.

 

AWB's previous forecast range for production was 22 million to 24 million tons.

 

Andrew Lindberg, AWB's managing director, said receivals to AWB's national pool were "expected to be about 19 million tons."

 

The company didn't disclose the size of the previous national pool.

 

"While the vast majority of wheat is now in the system, we are still expecting some late deliveries to the national pool from the trade and from grain stored on-farm" Lindberg said in a statement.

 

AWB sells wheat collectively on behalf of growers, pooling returns, then deducting storage, handling, transportation and other costs before passing on returns to growers.

 

AWB usually is a major global supplier of wheat.

 

The increase in new crop wheat production was largely due to record production in Western Australia state, he said.

 

A lingering drought limited plantings and crop yields in northwest New South Wales and central Queensland states, he said.

 

"AWB's sales and marketing program for the new crop is now in full swing, and we are well progressed, having posted some strong recent sales," he said in a statement.

 

Peter McBride, an AWB spokesman, said the company doesn't disclose production figures for each state "because of our marketing shipping and sales program."