Dry spring slashes grain forecasts
The Australian Bureau of Agricultural and Resources Economics (ABARE) has cut its forecast for the nation’s what crop by 11.4 per cent to 19.91 million tonnes because of dry spring conditions in south eastern Australia.
ABARE said the WA wheat crop would be 1.7 million
tonnes higher than last year at about 7.8 million tonnes, despite some frost
damage. The barley crop has also been impacted by the dry conditions, with ABARA
now predicting a harvest of 6.3 million tonnes, down 20 per cent than the
previous forecast in September. The Canola forecast has alos been cut by 320,000
tonnes since September to 1.3 million tonnes.
tonnes higher than last year at about 7.8 million tonnes, despite some frost
damage. The barley crop has also been impacted by the dry conditions, with ABARA
now predicting a harvest of 6.3 million tonnes, down 20 per cent than the
previous forecast in September. The Canola forecast has alos been cut by 320,000
tonnes since September to 1.3 million tonnes.
Source: Reuters/Business
Spectator
