mobile menu
language

Domestic Price of Wheat

Published: January 29, 2025
Key Metrics
Domestic Price of Wheat
Total (2025)
timeline_circle
$336 per tonne
Annualized Growth 2020-25
insert_chart
-0.4%
Definition of Domestic Price of Wheat

This report analyses the domestic price of wheat produced in Australia, measured in Australian dollars per tonne. The price reflects the production unit value, which is the average gross unit value received from crops harvested in that year. The data for this report is measured in financial years and is gathered from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).

Analyze the wider world in which businesses operate
We measure the upstream and downstream ramifications on thousands of industries so businesses can monitor their external operating environment. Explore membership options today.
PURCHASE OPTIONS

Included in an IBISWorld Membership

  • Our industry reports include 35+ pages of data, analysis and charts, including:
  • Industry Financial Ratios
    Industry Financial Ratios
  • Historical and Forecast Growth
    Historical and Forecast Growth
  • Industry Market Size
    Industry Market Size
  • Industry Major Players
    Industry Major Players
  • Profitability Analysis
    Profitability Analysis
  • SWOT Analysis
    SWOT Analysis
  • Industry Trends
    Industry Trends
  • Industry Operating Conditions
    Industry Operating Conditions
IBISWorld Premium Data

You need a Membership for access
to this data.

check_circle

Access to your choice of 632
industry reports

check_circle

Access to full library of 185
Business Environment Profiles

Get Started with
an IBISWorld
Membership
today!
PURCHASE OPTIONS CONTACT US NOW
IBISWorld
Premium Data

You need a Membership for
access to this data.

Get Started with an IBISWorld Membership today!
PURCHASE OPTIONS

Recent Trends – Domestic Price of Wheat

IBISWorld forecasts the domestic price of wheat to drop 10.2% in 2024-25 to $335.5 per tonne. ABARES anticipates that domestic wheat production will surge during the year on the back of favourable growing conditions and rainfall. However, the majority of the wheat produced in Australia is exported, meaning that domestic wheat prices are also heavily affected by the global price of wheat, which is in turn dictated by global production and demand. Global wheat production is set to tick up slightly, weighing on prices.

Global wheat supply has been heavily disrupted by the Russia-Ukraine war over the past four years. Russia is the largest wheat-exporting nation. Prior to the conflict, the United States Department of Agriculture (USDA) had forecast Russian exports to account for approximately 18% of total wheat exports in 2021-22. Ukraine is also a sizeable exporter and had been forecast by the USDA to contribute 12% of global exports in 2021-22. Although exports from Ukraine had halted following the conflict with Russia, the UN-brokered grain export deal in July 2022 enabled ships to travel through the Black Sea and resume their export presence. The Black Sea deal was extended twice through to the middle of July 2023. The deal helped alleviate complete market turmoil but uncertainty over the longer-term security of global grain supply remains. However, despite the lack of access to the Black Sea Corridor, exports from Ukraine rose in 2023-24. Though, they are set to drop back in 2024-25, according to forecasts from the United States Department of Agriculture.

5-Year Outlook – Domestic Price of Wheat

Rainfall volumes and weather patterns are projected to continue inf...

lockPurchase this report or a membership to unlock the 5-Year Outlook.

Trusted by More Than 10,000 Clients Around the World

  • IBISWorld client - VISA
  • IBISWorld client - ADP
  • IBISWorld client - Deloitte
  • IBISWorld client - AMEX
  • IBISWorld client - Bank of Montreal
PURCHASE OPTIONS