The Australian Wheat Industry

Wheat is Australia's most important grain crop. Over the five-year period to 1995, wheat
exports averaged about $2.3 billion. By world standards, Australia is a relatively small
producer of wheat, accounting for only 3% of annual world production. However, about
80% of our wheat is exported. This means that Australia contributes between 8 and
15% of world trade, making it the fourth largest exporter after the United States, Canada
and the European Union.

In 2003-04, almost 30,000 farmers in Australia grew wheat, using half of the agricultural
land dedicated to cropping. Along with harvest contractors, transport operators, storage
handlers, marketers, millers, etc., these people were responsible for the production,
sale and distribution of Australia's largest and most valuable crop.

The gross value of production of wheat in 2003-04 was $5.6 billion, which represented
15% of the total value of farm production. With overseas sales in 2003-04 of over $3.4b,
wheat is one of Australia's most valuable exports, making it a significant player in the
world wheat market.

In most cases, wheat farms are family businesses owned by either a sole proprietor or
family partnership. The growing of wheat is usually combined with other farming
activities such as raising sheep, beef cattle or growing other crops.

Australian wheat is recognized throughout the world for its high quality. It is used to
make noodles, steamed buns, flat breads, loaf breads, cakes and pastries. It is likely
that as the world's population grows, there will be an increasing demand for food. The
Australian wheat industry will have an important role in helping to feed the people of the
world.