FPJ1703D - Kingwell, R (2020), Australia’s role in global grain trade

FPJ1703D - Kingwell, R (2020), Australia’s role in global grain trade

$12.10

FPJ1703D – Kingwell, R (2020), Australia’s role in global grain trade, in Farm Policy Journal, vol. 17, no. 3, Spring 2020, pp. 26-35, Surry Hills, Australia.

Australia’s grains industry is buffeted by climate variability which weakens its ability to be a reliable grain exporter. Yet Australian grain production remains sufficiently efficient to allow the industry to stay strongly focused on exporting. This means the industry is trade-exposed, so it constantly needs to balance market downside risks against commercial upsides, whilst exploring opportunities to diversify its market exposure. Australia sells the bulk of its grain to a handful of markets and to-date that has been the most lucrative use of Australian grain. Yet because Australia is likely to be an increasingly minor player in global grain markets, plausible future features of Australia’s grains industry are a focus on serving strategically important markets, complemented by opportunism, and occasional rationing in years of widespread drought. To be skilful and agile in capturing future market opportunities will require coordinated action by the key agents in the Australian grains industry. Crucial will be access to market information and access to technical, economic and political insights and innovations that guide appropriate responses. Focused, coordinated actions will be required from market analysts, trade bureaucrats, scientists, advisers, crop breeders, grain traders and farmers.

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