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Australia - Wheat - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Jun 1, 2025

Australia - Wheat - Market Analysis, Forecast, Size, Trends and Insights

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Apr 23, 2024

Australia's 2023 Wheat Exports Decrease to $9.3B

Australia Wheat Exports

In 2023, shipments abroad of wheat increased by 1.8% to 29M tons, rising for the fourth consecutive year after two years of decline. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 146% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

In value terms, wheat exports contracted to $9.3B (IndexBox estimates) in 2023. Over the period under review, exports continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 164% against the previous year. Over the period under review, the exports hit record highs at $10B in 2022, and then dropped in the following year.Australia Wheat Exports By Country (Million USD)

COUNTRYExport Value of Wheat in Australia (million USD)
20132014201520162017201820192020202120222023
China27335435132733910971.35338812,0462,122
Indonesia1,1521,1361,0327321,0475242162401,3221,4731,326
Vietnam4404033313334162352242448501,003899
Philippines1111521642203723264541765471,074857
South Korea306313269258236255283284311722737
Thailand12613812693.812186.312293.8287291618
Yemen264239270169193108160113236333414
Japan344287239209243262242226342455364
Malaysia231307218187202162156120319381325
Others2,6292,0151,3711,0921,4819725556622,0092,2301,613
Total5,8765,3434,3723,6214,6493,0392,4832,6917,10610,0089,277

Exports by Country

China (6.6M tons), Indonesia (4.3M tons) and Vietnam (2.8M tons) were the main destinations of wheat exports from Australia, together comprising 47% of total exports. the Philippines, South Korea, Thailand, Yemen, Japan and Malaysia lagged somewhat behind, together comprising a further 36%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +23.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($2.1B), Indonesia ($1.3B) and Vietnam ($899M) constituted the largest markets for wheat exported from Australia worldwide, together comprising 47% of total exports.

In terms of the main countries of destination, China, with a CAGR of +22.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the wheat price stood at $317 per ton (FOB, Australia), waning by -8.9% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of 25% against the previous year. As a result, the export price attained the peak level of $348 per ton, and then fell in the following year.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were South Korea ($326 per ton) and Iraq ($324 per ton), while the average price for exports to Indonesia ($305 per ton) and Yemen ($306 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.2%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the wheat market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 15 - Wheat

Country coverage:

  • Australia

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Australia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012-2024
    6. Imports, In Value Terms, By Country, 2012-2024
    7. Import Prices, By Country, 2012-2024
    8. Exports, In Physical Terms, By Country, 2012-2024
    9. Exports, In Value Terms, By Country, 2012-2024
    10. Exports Prices, By Country, 2012-2024

  12. LIST OF FIGURES

    1. Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, by Product
    11. Average Per Capita Consumption, by Product
    12. Exports and Growth, by Product
    13. Export Prices and Growth, by Product
    14. Production Volume and Growth
    15. Yield and Growth
    16. Exports and Growth
    17. Export Prices and Growth
    18. Market Size and Growth
    19. Per Capita Consumption
    20. Imports and Growth
    21. Import Prices
    22. Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Harvested Area: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Yield: Historical Data (2012–2024) and Forecast (2025–2035)
    26. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    27. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    28. Imports, in Physical Terms, by Country, 2024
    29. Imports, in Physical Terms, by Country, 2012-2024
    30. Imports, in Value Terms, by Country, 2012-2024
    31. Import Prices, by Country, 2012-2024
    32. Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    33. Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    34. Exports, in Physical Terms, by Country, 2024
    35. Exports, in Physical Terms, by Country, 2012-2024
    36. Exports, in Value Terms, by Country, 2012-2024
    37. Export Prices, by Country, 2012-2024

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