Key Market Indicators
Australians are expected to consume 1.9 million metric tons of wheat by 2026, up a modest 0.3% from 2021. This is less than the 0.1% average growth since 2017. In 2021, Australia ranked 38th in the world for wheat consumption, behind Colombia. The top three countries were India, the United States, and Pakistan. Australian wheat production is also set to decrease in the coming years. By 2026, it is projected to reach 16.5 million metric tons, down 1.7% year-on-year. This is a 3.5% decrease from 1966. This year, Australia ranks 11th in the world for wheat production, behind Argentina. India, Russia, and the United States are the top three producers.
