RAINS BOOST AUSTRALIA’S SUMMER CROPS
Summer crop prospects for Australia were pronounced “excellent” following well-timed rains in eastern growing areas that boosted expectations for production to 4.3 million tonnes, according to the ABARES quarterly report released on March 4. If realized, 2023-24 summer crop production – which includes sorghum, rice, and cotton – would still be 17% below last year but 22% above the 10-year average of 3.5 million tonnes, which raised its outlook by 14% from December. Area planted for summer crops is estimated to fall by 14% to 1.3 million hectares in 2023–24. ABARES revised sorghum production 38% higher from its December report to 2 million tonnes. The better-than-expected summer rainfall led to higher plantings of later-sown sorghum crops, increased yield potential, and boosted overall sorghum production, ABARES said. Production of rice is forecast to rise slightly in 2023–24, up 9% to 555,000 tonnes.
(Link: WorldGrain)
IMPORTS OF ANIMAL FEED AND RAW MATERIALS INCREASED SHARPLY
The import value of animal feed and raw materials to Vietnam in February 2024 is estimated to reach 480 million USD, bringing the total import value of animal feed and raw materials in the first 2 months of 2024 to 905 million USD, an increase of 21,5% million USD over the same period in 2023. The volume and value of soybean imports in February 2024 are estimated to reach 300 thousand tons and 167 million USD, up 69.7% in volume and 35.7% in value compared to the same period in 2023. The average imported soybean price in the first 2 months of 2024 reached 565 USD/ton, down 20% over the same period in 2023.
Wheat imports in February 2024 are estimated to reach 1.2 million tons and 323 million USD, an increase of twofold 8 times in volume and 2.1% in value compared to the same period in 2023. For corn, imports in February 2024 will reach 2 million tons and 512 million USD, 2.1 times more in volume and 59.5% more in value compared to the same period in 2023. The average price of imported corn in the first 2 months of 2024 is estimated at 256 USD/ton, down 24% over the same period last year.
(Link: Vina.Net)
