AGRICULTURE NEWS

AUSTRALIA SET FOR ANOTHER BIG YEAR OF GRAIN PRODUCTION

After 2 years of drought, Australia is set for a second year of excellent grain production. Australia’s MY 2021/22 wheat production is forecast at 22% higher than the previous 10-year average at 29.5 million metric tons (mmt). If this forecast is realized, this would be a mere 3.8 mmt lower than the record-breaking MY 2020/21 wheat crop and the fourth highest on record for Australia. Such a harvest is due to favourable seasonal conditions across much of the grain-growing regions of the country. From this harvest, Australia is on track to achieve total exports of 23 mmt in MY 2020/21, and it is anticipated exports will remain strong in MY 2021/22 at 21.5 mmt.