MarketsFarm — Australia is forecast to harvest record-large wheat and canola crops in 2022-23, with improved crop prospects in many parts of the country more than offsetting losses in others.
That analysis comes from the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), released Tuesday.
Total production of all winter crops is forecast to reach 62 million tonnes, which would be the second highest on record. Heavy spring rainfall led to extensive crop losses in New South Wales, with the moisture also causing harvest delays in the state and neighbouring Victoria. However, conditions were much more favourable in Western Australia, South Australia and Queensland.
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Of the total production, Australia’s wheat crop is forecast at 36.6 million tonnes, which would be up one per cent from the previous record for the crop set in 2021-22 and well above the 32.2 million tonnes forecast in September.
The country’s canola crop is now forecast at 7.3 million tonnes, marking a four per cent increase over the previous record set last year.
Australian barley production is forecast at 13.4 million tonnes, which would be down slightly on the year due to smaller acres, but still the fourth largest on record.
