Wheat Exports Australia (WEA) reports an increase in wheat exports, which if continue at current rate, could be up to four million tonnes higher than 2009 – 10. However, production estimates put put by Commonwealth Bank suggests that this year’s production could be down two million tonnes on last year’s record. Major reason for the decrease in production is the concern of droughts in Western Australia, where a lack of rain has pushed sowing past its optimum time.
Biggest demand of Australian wheat comes from Asian region. Indonesia, Vietnam, Japan, Korea and Bangladesh import more than 50 percent of Australia’s bulk wheat.