Australia Wheat Exports On a Record Pace
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Australia had record Wheat crop production in 2021, which came timely as the global Wheat supply was tighter YoY. Australia Wheat exports, therefore, benefited from large demand globally. The pace of Wheat exports thus increased YoY, particularly with Mar exports booming 1.33 Mmt YoY. Nonetheless, the pace surprisingly slowed down between Dec 21 & Feb 22, with exports decreasing 925 kmt in Dec YoY. Overall, the export pace is way ahead of the 20/21 one, totaling 21.4 Mmt of Wheat exported in 21/22 so far, heading towards a record season. Yet, Russia’s expected bumper crop could potentially put a brake on Australia’s Wheat exports pace.
Australia Cumulative Wheat Exports Delta: 2021/22 v. 2020/21
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