Weather damaged wheat in China will drive prices upSally Bryant, Monday July 22, 2013 - 13:16 EST
Frost and weather damage in China may result in 20 million tonnes of Chinese wheat being declared unfit for human consumption, according to a grains trader from the NSW central west.
General Manager of AgFarm in Dubbo, Steve Foran says the full situation is still emerging but 20 million tonnes would represent approximately 16% of Chinese domestic wheat production and the shortfall will need to be made up through imports.
Mr Foran says the situation is still unfolding, and it is often difficult to get reliable information out of the Chinese market.
© ABC 2013
More breaking news
Melbourne has had its coldest day since last September, with heavy rain and flurries in Alpine areas.
For those among us wanting to balance out our participation in Earth Hour, the Vivid Light, Music and Ideas Festival opens in Sydney this on Friday.
Australia's Bureau of Meteorology (BoM) has released modelling showing the latest El Nino cycle is over, but could now lead to a wet winter after a devastating 14 months of drought and famine across the Pacific.