Australia expects small decline in wheat price
Australia’s wheat price is forecast to be lower in the crop year 2013/14 due to the large harvest expected. However the drop will not be too big as the shrunken wheat stocks first need to be replenished.
According to a report by Australian Department of Agriculture, Fisheries and Forestry (ABARES), Australia will produce 13% more wheat this season. ABARES expects that even with the increase the price will stay above the average of the last five years.
The demand for wheat increases every year.
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