Australia’s east coast is experiencing a chronic shortage of wheat and stocks could run out by November.
The shortage comes after two years of strong exports, with 15 million tonnes of wheat shipped out in the last nine months.
Ole Houe, from Ikon Commodities in Sydney, says it could mean domestic wheat prices will rise by $30-$40 per tonne in the next three months.
“This is prices we typically see in drought years,” he said.
“And the indications are that there could be people having to pay up large sums of the grain they need, or the wheat they need, to supply the domestic demand for the next two or three months.”
(Source – http://www.blackseagrain.net/about-ukragroconsult/news-bsg/australia.-strong-exports-could-cause-domestic-wheat-shortage)