In the vast and sun-kissed fields of Queensland, Australia, a tale of gram unfolds, defying the norms of crop cycles. As the new season’s gram harvest kicks off with gusto, it has sent ripples through the trading world, propelling gram prices to their highest peak in three years. Queensland, the central hub of this gram production extravaganza, is poised to dominate the gram scene during the 2023-24 season. The dry, arid winds of southern Queensland and northern New South Wales have cast their shadow on crop production, a critical factor behind this price surge.
Increasing prices
However, the lentil harvest preparations have commenced across the border in South Australia. At the tail end of August, gram prices for delivery to depots in Queensland and Darling Downs languished at $630 per tonne. Fast forward, and they now tower above $900 per tonne, soaring to heights unseen since the dawn of 2020. A remarkable spectacle is on the horizon—an export expedition that could dispatch 40 thousand tonnes of gram, setting sail from Queensland’s shores by December. Meanwhile, the ports of Townsville and Brisbane entertain dreams of hosting gram-laden containers.
Across this vast expanse of fields, winter-spring crops are emerging from their slumber. In Queensland, Northern New South Wales, and South Australia, the stage is set for the harvest, and early reports suggest a bounty awaits. Wheat and barley are dressed in quality, gracing the region with healthy yields. In the northern reaches of South Australia, the lentil fields bear witness to the gift of rain—a boon for the crops. The southern landscapes of New South Wales, Victoria, and eastern South Australia sing a similar song of crop prosperity.
On the international front, the export offering price for the new crop of lentils from Australia dances in the range of $1085-1090 per tonne, targeting deliveries in November and December. A twist in the tale lies in the Australian dollar’s weakening against its US counterpart, rendering it a tempting proposition for foreign buyers. Yet, importers remain cautious, casting a watchful eye over the unfolding India-Canada relations.
In this tumultuous dance of supply and demand, gram and lentils emerge as the stars, captivating the stage Down Under as Australia’s agricultural landscape continues to evolve and surprise.