| ||Revised Wheat Production Outlook for 2002/03|| ||
Further to the wheat production outlook announcement on 20th November 2002, AWB has reduced its estimate of domestic wheat production to a range of 9.5 – 10.5 million tonnes.
With harvest around the country now largely complete, receival figures from bulk handlers and AWB show the full impact of the drought, with receivals of all grains only a third of the amount received in 2001/2002 season.
Importantly, the harsh season has failed to impact on wheat quality, with above average protein and low levels of screenings recorded.
Forecasting in the current environment is challenging as a significant tonnage is stored on farm by growers or sold direct to consumers due to high domestic prices, with a higher proportion of the crop also currently stored in warehousing awaiting a marketing decision by growers.
While Australia’s wheat production this season is significantly lower than last season AWB (International) Limited has a carryover of approximately four million tonnes of wheat from the 2001/02 harvest to better manage AWB’s international customer demand and ultimately maximise returns to growers delivering to AWB National Pool.
Traditionally domestic consumption for wheat is approximately five to six million tonnes per year and AWB has already supplied the domestic market with significant tonnage for the 2003 year from the 2001/02 crop.
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