Australia’s Department of Agriculture and Water said late on May 14 that it approved a permit to import Canadian wheat.
“It is expected that the cargo will arrive in Australia in the next six to eight weeks,” the message posted on the department’s website said.
Australia last imported wheat in 2007, when the El Niño weather caused severe drought and reduced grain yields to about half the average annual level. Although the extreme effect of El Nino affected Australia in 2016, in recent years the country suffered from prolonged drought on the east coast, which led to a decrease in productivity for two consecutive years.This year, drought also threatens the crop. Farmers are currently sowing crops, but due to the small amount of rain many are forced to postpone sowing or prefer to sow on dry soils, risking a poor harvest.
Traditional buyers of Australian wheat have already turned their eyes to the Black Sea region to ensure grain supplies.It is expected that in the Black Sea region, Europe and North America there will be an increase in crop production in 2019/20, which will be collected around the middle of this year, which is likely to lead to lower prices.