Rabobank expects decrease of the grain crops in Australia

05 Jun, 2017
Rabobank expects decrease of the grain crops in Australia
In the current season the grain crops inn Australia will decrease in spite of the lack of change of the areas with winter grain crops accordig to the latest forecast of Rabobank.

In the current season 22 mln. ha will be cropped with grains in Australia.Barley areas will be reduced by 10%, oats also by 10%.Despite the low price of wheat the wheat ares remain unchanged.

According to some climate simulations in September El Nino will be formed which will bring drought in the eastern parts of the continent.The positive phase of the Indo-oceanic dipol will bring  drought in the west parts of the country.

The positive changes are related to the weakening of the local currency compared to the US one.

In the last year thanks to the good natural conditions in Australia were achieved record high winter grains crops. Wheat's crop was 35 mln. tonnes and barley's - 13.4 mln. tonnes.