Australia’s July-December wheat exports at 4.47Mt down 40pc on 2H17

15.02.2019

AUSTRALIA exported 4.47 million tonnes (Mt) of wheat in the second half of 2018, according to the latest data from the Australian Bureau of Statistics (ABS).

Bulk customers took a total of 3.9Mt of wheat, with Indonesia on 705,679t, Iraq on 465,206t and Korea on 441,190t, only 2124t in front of Japan on 439,066t, the biggest volume buyers.

In the containerised market, a total of 568,512t was shipped, with Myanmar on 166,882t, The Philippines on 79,914t, Malaysia on 53,058t, and Taiwan on 40,892t the biggest customers.

Both bulk and boxed exports fell to their usual annual low in November, as old-crop stocks ran down while Australia’s current-crop harvest cranked up.

The 2H18 wheat-shipment figures is 40 per cent below the corresponding 2H17 period, when 7.5Mt was shipped.

“The ABS export numbers tell a story we knew was playing out through the back end of 2018, one of rationing supply as the 2018-19 crop deteriorated dramatically,” Market Check head of strategy Nick Crundall said.

“The key objective for our domestic market was to rally our prices to a point where our international customers were forced to go elsewhere for their requirements and hence increase our ending stocks to buffer the shortfall in production for this season.

“The inelasticity of our demand was tested as the spread between Aussie values and Black Sea blew out, with Indonesia, Iraq and Korea proving to be the ones willing to pay up for Aussie wheat.

“Even though our exports were down sharply in the second half of 2018 vs the year prior, we still exported nearly 14Mt in the 2017-18 season, which has left us in the tightest stocks position in modern times.”

BULK Jly Aug Sep Oct Nov Dec Tonnes
Bahrain 0 27000 0 0 0 0 27000
Egypt 0 67500 0 0 0 0 67500
Fiji 43804 0 14500 0 0 44000 102304
Indonesia 277304 129505 55875 92134 1004 149857 705679
Iraq 104700 0 308606   0 51900 465206
Japan 74958 88796 77197 70273 64149 63693 439066
Kenya 0 0 0 0 0 44469 44469
Korea 98230 55435 150045   33000 104480 441190
Kuwait 45203 0 44780 45097 44600 0 179680
Malaysia 93897 36261 16348 14000 60500 0 221006
Myanmar 0 0 0 0 0 500 500
New Zealand 70100 84200 0 49746 0 27500 231546
Nigeria 61000 0 0 0 0 0 61000
Oman 31099 0 0 0 0 0 31099
Papua New Guinea 22000 17599 22000 21000 41800 0 124399
Philippines 183394 0 0 0 0 0 183394
Singapore 0 19800 15400 0 0 16500 51700
Sri Lanka 0 0 0 0 0 30048 30048
Sudan 0 11000 0 0 0 0 11000
Taiwan 1340 0 0 0 0 0 1340
Thailand 26242 43650 25849 0 0 0 95741
UAE 22050 0 0 0 0 50841 72891
Vietnam 0 124834 29566 49500 0 54291 258191
Yemen 26900 31000 0 0 0 0 57900
TOTAL 1182221 736580 760166 341750 245053 638079 3903849

Table 1: ABS bulk wheat export data for July to December 2018.

  Jly Aug Sep Oct Nov Dec Tonnes
China 6653 11275 1922 4175 1322 3891 29238
Egypt 250 475 0 0 0 700 1425
Fiji 3714 4599 2393 2638 3246 2711 19301
Hong Kong 24 0 24 24 0 24 96
Indonesia 4583 3790 5409 1398 1527 0 16707
Japan 0 669 603 467 0 0 1739
Korea 1018 502 260 259   1849 3888
Malaysia 7648 13871 9275 6455 5537 10272 53058
Myanmar 31094 23236 26168 23954 27556 34874 166882
New Caledonia 2797 3083 3403 1190 1489 1451 13413
New Zealand 6819 6406 7469 5617 5494 2478 34283
Papua New Guinea 0 47 299 48 1030 440 1864
Philippines 59085 5728 3266 4528 2579 4728 79914
Saudi Arabia 500 1125 1510 0 510 0 3645
Singapore 1947 5415 1790 0 0 2532 11684
Solomon Islands 0 1445 1201 2390 499 0 5535
Taiwan 17533 10644 7287 2002 506 2920 40892
Tanzania 0 503 0 0 0 0 503
Thailand 8270 11564 2590 4261 5308 8014 40007
United Kingdom 996 498 0 5259 253 506 7512
Vietnam 16802 5200 2465 0 6533 5926 36926
TOTAL 169733 110075 77334 64665 63389 83316 568512

Table 2: ABS containerised wheat export data for July to December 2018.

 

Grain Central

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