In a year of extremes for the grains industry, much of New South Wales is expected to achieve a better harvest than the previous two seasons according to a new report into Australian grain production.
The 2015 National Crop Update, prepared by Rural Bank’s market insights resource, Ag Answers, reveals that overall national grain production is expected to be slightly higher than last year due to an increase in the production of legume crops, with wheat production forecast to grow by three percent and barley by 12 percent, while canola production is predicted to fall by 14 percent.
The report presents forecasts for the 2015 New South Wales cropping season based on climatic conditions and reviews recent trends in grain prices, as well as the financial and export performance for wheat, barley, canola and other crops.
Rural Bank Senior Relationship Manager for New South Wales and Queensland, John Ellwood said the report provides farmers with valuable, up-to-date information which they can use to evaluate and contrast farm performance.
“Despite a dry start, growing season rainfall has been close to average for most of the state, although the October to December harvest period is likely to be drier than normal in south-east New South Wales”, he said.
“The wheat crops in north-west New South Wales have recovered from the dry start and growers are hopeful of close to average yields. The crops inspected around the Coonamble, Narrabri and Gunnedah have the potential to be as good as last season, although one more finishing rain is necessary if better than average yields are to be achieved.”
While it remains a key market for grain exports from New South Wales, lower volumes of canola and wheat exports led to a decrease in the value of exports to China during the 2014/15 period.
Nationally, Chinese grain export value dropped from approximately $2.4bn to $1.9bn annually. New South Wales wheat exports to Indonesia improved year-on-year in 2014/15, reflecting the national increase in grains being exported to the country, with the total reported export value increasing from around $1.2 billion in 2012/13 to $1.4 billion in 2014/15.
In addition to New South Wales and national data, the report includes state-based statistics on grain production and forecasts, predicted wheat yields by local shire, growing season rainfall, prices for wheat and canola throughout the season, financial performance including total crop income and equity and rate of return for an average farm, as well as export performance for grains and seeds.
To view the National Crop Update report, visit: 梧桐夜网ruralbank南京夜网419论坛/national-crop-update.
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