The Australian Bureau of Statistics bulk export figures show that 782,499 metric tonnes of Australian wheat made its way to China in December 2020. This high export tonnage is an indication that despite trade tensions, Australian wheat was still in demand in China.
Wheat accounts for 12.5% of all agricultural products exported from the country. The wheat is grown on large scale plantations in Western Australia, South Australia, South Wales and Queensland. While beef is the most popular export, other types of meat from Australia are also in high demand in the export market and include mutton and goat meat.
Wheat is traded in the international market between several countries. The European Union exports the largest quantity of wheat, flour, and wheat products. In the year 2015/2016, the European Union exported goods worth 33 million metric tons. Russia is the single largest exporter of wheat in the world.
Can Australian Wheat compete with South American corn?
Of this, only 28,900mt is reported as being Australian origin wheat and the majority is corn from South America. Price is important and the challenge for Australian wheat exports in the future is whether Australian grains can remain competitive with corn production increases in South America as practices and technology improve.
Will Argentina set export limits on wheat to ensure domestic supply?
BUENOS AIRES, ARGENTINA — Rumors are circulating that Argentina will set export limits on wheat in an attempt to ensure domestic supplies, Reuters reported. The government recently tried to limit corn exports but changed its mind after growers objected.
Argentina is one of the greatest exporters of meat in the world. There are several reasons behind this. Some of them are: Most of the parts of Pampas’s grassland, Patagonia desert fall here. So, cattle rearing has flourished, cow, sheep, buffaloes, etc. are reared in large quantities at commercial scale.
How is Argentina the world’s 8th largest beef exporter?
The above tells us that Argentina is the world’s 8th largest beef exporter which is very impressive. Argentina is capable of exporting roughly $619 million usd worth of beef a year and this feat is in part thanks to Argentina’s very high comparative advantage in beef production.
The next thing we wondered was; what is the economy like in Argentina?
One article argued that argentina is the 45th largest export economy in the world and the 50th most complex economy according to the Economic Complexity Index (ECI). In 2017, Argentina exported $59.2B and imported $66.5B, resulting in a negative trade balance of $7.25B.