By Colin Packham
By Colin Packham
SYDNEY, Nov 6 (Reuters) – Commodity brokerage INTL FCStone mentioned on Wednesday a ballot of its purchasers estimated Australian wheat manufacturing through the 2019/29 season could be practically 20% decrease than official estimates.
INTL FCStone mentioned its ballot of an unspecified variety of purchasers pegged Australian wheat manufacturing at 15.54 million tonnes, 19.1% decrease than Australia’s official estimate of 19.2 million tonnes.
With decrease manufacturing, Australia – usually one of many world’s largest exporters – can be more likely to lose larger market share in profitable markets resembling Indonesia and South Korea at a time of falling costs.
Decrease manufacturing might power some millers into uncommon imports.
Australia accredited in Could the primary import cargo of wheat in additional than decade.
INTL FCStone mentioned its ballot additionally pegged Australian canola manufacturing at 1.82 million tonnes, beneath official…