Australia Steps Up Wheat Supply Amid Global Crisis

Australia Steps Up Wheat Supply Amid Global Crisis

As the global wheat supply is threatened by Russia’s invasion of Ukraine, Grain Growers Australia chairman Brett Hosking has spoken out about how Australia could help to ease the situation. The Daily Mail reports that the antipodean continent could now replace Eastern regions as the bread basket of the world.

Ukraine formerly supplied global markets with around 11.5% of its wheat, and Russia had a 16.8% share, according to DW News, amounting to nearly a third of the global supply. Now, Moscow have imposed restrictions on exports of wheat, grain, and barley, while Ukraine’s supply will be severely disrupted by the impact of the conflict.

One piece of good news is that Australia has just had two exceptional years of wheat production in a row, which have yielded harvests about 20 percent above the average. Mr Hosking has said that the country now needs to overcome logistical challenges to ensure the surplus can be exported where it needs to go.

Mr Hosking told the publication: ‘We are a large wheat exporter so we have an opportunity and even an obligation to make sure countries that need grain can get access to it. We have our own logistics challenges so there is an opportunity for the government to step up and invest in our road, rail and port infrastructure.’

He added: ‘That way we could ship grain to countries that need it the most much faster.’ He continued: ‘The cost of the grain may become too unaffordable for many importers across the world. But we absolutely have enough supply to make a really significant difference so that millions of people in need across the world are fed.’

Although experts believe the world still produces enough wheat to feed everyone, the current unrest will almost certainly lead to rising costs of wheat, barley, and similar foodstuffs on a global scale.

 

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By | 2022-05-06T11:22:39+00:00 April 21st, 2022|Blog|Comments Off on Australia Steps Up Wheat Supply Amid Global Crisis

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