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Australia cuts wheat export forecast

Australia cut its forecast for 2014/15 wheat exports and increased its beef export forecast as dry weather hits crops and drives up slaughter rates, taking the national herd to at least a 17-year low. The forecasts come as Australia's weather bureau warned last week that an El Nino weather event - linked to hot, dry weather - is likely over the next three months, darkening the outlook for agricultural producers.

Australian wheat exports were pegged at 16.99 million tonnes, down 6 percent from a September forecast, the country's official commodities forecaster said.

Copyright Reuters, 2014



 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln