Western Australia’s largest grain marketer CBH said on Friday that it has shipped a record grain export volume of 11 million mt in the seven-month period from November 2016 to May 2017, smashing its own previous record shipment of 9.4 million mt over the same period two seasons ago.
Last season, CBH shipped 8.2 million mt of grain during the same period, according to an email from CBH.
Australia’s record grain production of over 63 million mt in this market year of October 2016-September 2017, with wheat accounting for about 50% of the total volume, pressured exporters to push out volumes in the first half of the calendar year, before harvesting begins in the Northern Hemisphere, as global wheat stocks increased for the sixth consecutive year in 2017-2018 (July-June) to 261 million mt.
On February 2, 2017, CBH announced that Western Australian growers had delivered the largest-ever harvest, with more than 16.6 million mt received into network, about 5% higher than previous season’s 15.86 million mt.
In May 2017, CBH shipped out 1.6 million mt of grain, the second consecutive month of record shipment after April’s 1.6 million mt and January’s 1.8 million mt.
CBH said that despite the challenges they faced in pushing out such large volumes, given the logistics problems that arose in February amid flooding, they managed to export 62% of the crop production in mid-May.
In May, the company transported 883,000 mt of grain on rail, its highest grain shipment for the month so far.
Two other major grain exporters, Vitera in South Australia and Graincorp in East Australia, have similiarly announced record export of grains in May, reflecting the large export program boosted by the country’s huge harvest in 2016-2017.
Australia’s wheat exports totaled 16 million mt in the 2015-2016 wheat market year (October-September). The world’s fourth-largest wheat exporting country is forecast to export 20 million-22 million mt of wheat in the 2017-2018 market year.
Source: PlattsPrevious Next
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