Canberra – January 15, 2021
Australia exported 515,636 tonnes of wheat in November, up 42 per cent from the October total of 361,985t, according to the latest export data from the Australian Ag Statistics .
Egypt on 20,252t was the major destination for boxed wheat, while on bulk shipments, Indonesia was the biggest customer with 115,515t, followed by The Philippines on 60,715t and Vietnam on 57,220t.
China does not appear as a November bulk customer, but shipping stems indicate it will for December.
China, in fact, has imported a large, potentially record volume of wheat during 2020.
During November, it imported around 800,000.
Typically, Australia was been the largest supplier of Chinese imports, but political intervention caused a vacuum.
Maybe it is just a delayed export program.
In fact, Australian wheat on a global level is extremely competitive genereted by a large crop causing a diminished basis versus other origins.
Australian wheat would not compete throughout all of South-East Asia for the rest of the marketing year, but will have potential opportunities into Middle Eastern destinations.
And, this will especially be the case if the rumours about Russian wheat export taxes come to fruition.
This year, in fact, we have seen, especially in export states, a very high price due drought status.
And Australian growers and trade longs are continuing to sell into the export and domestic markets.
