Source: APKinform (Ukraine)
The September forecast from the Australian Bureau of Agricultural and Resource Economics (ABARES) suggests that Australian winter grain production in the 2024/25 marketing year will increase by 17% year-on-year to 55.2 million heads (the fifth highest annual figure ever recorded), Feedlot reports.
As previously mentioned, winter grain production has been revised upwards by 7% from the June ABARES report, reflecting improved production prospects in New South Wales, Queensland and Western Australia, which are expected to more than offset production declines in South Australia and Victoria.
In particular, the Australian winter wheat crop is expected to increase by 23% to 31.8 million tons in the 2024/25 season, which is also 20% above the ten-year average. Barley production will increase by 13% to 12.2 million tons, which is 7% above the 10-year average.
At the same time, rapeseed production is expected to fall by 8% to 5.5 million tons, as the area under cultivation for this oilseed is likely to decrease compared to the previous year. However, despite the expected decline, the area under cultivation is still above the 10-year average, meaning that Australian rapeseed production is expected to be 22% above the 10-year average.