The Australian Export Wheat Commission revealed that more than 1.1 million tonnes of wheat were exported in containers for the six months to March 31, setting a record.
That's nearly triple the exports for the same period last year and almost 10 times the exports for the whole of the 2002-03 season.
Exports of wheat in containers are on track to top two million tonnes for a single season for the first time this year.
But much depended on whether enough empty containers can be found for packing wheat in Western Australia and South Australia, where there is a chronic shortage.
Booming containerised wheat exports are being driven by deregulation of the market last August, high grain prices and heavy imports of white goods and computer equipment.
With the deregulation of the market, Australia exports wheat now to Malaysia and Indonesia, the country’s biggest destinations for containerised wheat, apart from Vietnam.
Overseas buyers preferred containerised exports rather than bulk shipments because it was easier on their cash flow. The cost of sending grain by containers was generally cheaper than bulk carriers.
CargonewsAsia
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