Australia is forecast to produce 36.6 million tonnes ( mln tonnes) of wheat, 13.4 mln tonnes of barley and 7.3 mln tonnes of canola from the winter-crop harvest now under way, according to estimates released on December 6 by ABARES in its quarterly Australian Crop and Agricultural Commodities reports.
The wheat figure is up 14pc from the previous estimate released in September of 32.2 mln tonnes, and breaks the national production record set in 2021-22 of 36.3 mln tonnes.
The canola estimate is up 11pc from 6.6 mln tonnes forecast in September, and breaks last year’s record of 6.8 mln tonnes.
While barley is up 10pc on the previous estimate of 12.3 mln tonnes, it is expected to be fourth-largest crop on record for barley, with its area being down on last year’s compared with increases for wheat and canola.
In commentary tied to the crop report and to ABARES December quarter Agricultural Commodities Report also out today, the national forecaster said Australian agriculture is still on track for an outstanding 12 months, despite the impact of the devastating floods in the eastern states.
“The gross value of agricultural production is forecast to be a near-record $85 billion in 2022-23, just shy of the record set the previous year,” ABARES executive director Jared Greenville said.
“The winter crop is forecast to be the second largest on record at over 62 mln tonnes.”
Dr Greenville said livestock production was expected to hold steady, contributing $34B to the national total.
“Another bumper year combined with high commodity prices means Australia’s agricultural exports are forecast to break records at over A$72B in 2022-23.”
Dr Greenville said while spring rain has impacted production, yields and quality in some parts of the country, some states are experiencing their best winter crops on record.
“Crops in Western Australia and South Australia benefitted the most from spring conditions, with total production in both states forecast to reach new record levels.
“Total production in Queensland is forecast to reach the second highest on record, despite parts of the Darling Downs missing out on plantings after being impacted by the floods.
“In other parts of the country, the results are mixed with both flooding and waterlogging impacting winter-crop production.”
ABARES data shows a record amount of crop was planted in Victoria this year.
“At the state level, high yields in the Mallee and the Wimmera will offset crop losses in central and northern border regions.
“However, the full picture of damage to crops from extensive waterlogging remains an unknown.
Total production for New South Wales has been revised down by 2 mln tonnes since the September crop report as record spring rainfall followed above-average rain in August.
“Unfortunately, NSW has borne the brunt of the damage from the spring rains and subsequent floods.
“Considerable uncertainty remains over winter-crop harvest progress and grain quality in NSW and Victoria given ongoing high rainfall, which could lead to downgrades in production value.
“Harvests in Victoria and NSW are likely to run well into summer.”
The gross value of crop production is forecast to remain at near record levels in 2022–23 at almost $51B, driven mainly by forecast near-record crop production and high prices for grains and oilseeds.
The gross values of wheat and barley production are forecast to reach record highs, both surpassing the previous record levels reached in 2021-22, while the gross value of canola production is forecast to be the second highest on record in 2022-23.
Brewer Anheuser-Busch InBev (AB InBev) that has set up a brewery unit in Mysuru, Karnataka has expressed interest to extend its plant by investing another ₹500 crore, The Hindu Business Line reported on December 6.
AB InBev Chairman and Chief Executive Officer John Crop met Chief Minister Basavaraj Bommai on December 5 and showed interest to invest more in the State, the CMO said in a release.
It said AB InBev is an American-Belgian multinational drink and brewing company based in Leuven, Belgium. This company has set up a brewery unit in Mysuru and wanted to extend its plan by investing another ₹500 crore.
The State was appreciated for having the best Excise policy and also a good industry-friendly atmosphere, it further said, adding that the company intends to make more investments in Karnataka.
Responding to the interest evinced, the Chief Minister promised all help from the State government.
AB InBev is one among the Fortune 500 companies in the world and has manufacturing units in 150 countries. In India, its headquarters is located in Bengaluru.
The Mysuru unit has around 2,000 employees and nearly 79 per cent of working is through renewable sources of energy.
With the expansion of this brewery, the State treasury would get an additional revenue of ₹200-300 crore, besides creation of direct and indirect jobs, the release added.
