Australia regains dominant position in wheat trade in Southeast Asia

Australian exports to the region are expected to increase once harvesting is complete.

Southeast Asia is looking to import more wheat in MY 2024/25 and Australia will be its main supplier, although several other players entered the market in MY 2023/24 as Australian production declined by 36%. USDA forecasts that wheat exports from Australia to Southeast Asia will grow in MY 2024/25 as production reaches 32 million tons.

Exports to the region from Ukraine, Russia and the EU rose sharply in MY 2023/24, offsetting lower production in Australia. “These lower-price suppliers have increased feed wheat shipments to Southeast Asia and tend to ship most of their exports to the region in the first half of the trading year,” the USDA report noted.

Australian exports to the region are expected to increase following the completion of harvest, which is currently underway and will be completed in January or February 2025. However, Australia will now have to reckon with the increased popularity of South American wheat in Southeast Asia, with shipments in the same peak months as Australia’s second half of the trading year.

Tags: wheat, Asia, Australia