Browse Data and Analysis

Early seasonal conditions for the MY 2023/24 citrus crop have been favorable, and producers expect to benefit from an easing of fertilizer and crop protection chemical costs, along with a further easing of labor constraints. Orange production is expected to increase five percent to 530,000 metric tons (MT) from the prior’s year estimate, the second highest over the last two decades.

Australia is a prosperous and industrialized nation with a stable economy. The country’s strong economy underpins its open and transparent trade and investment environment and trade and economic links with emerging economies, particularly in Asia.

Australia has been a world powerhouse of high-quality wool production and exports for over 150 years. The industry now exports around 323,000 metric tons (MT) of wool valued at about US$2.3 billion - more than any other wool exporter.

Turkiye’s cotton production in marketing year (MY) 2023/24 is forecast to decrease to 695,000 metric tons (MT; 3.19 million bales), since farmers chose to plant less cotton in response to decreasing cotton prices and rising input costs.

While Colombia´s regulatory environment remains friendly toward the adoption of biotechnology-derived crops and products, congressional anti-biotechnology initiatives pose a threat to further acceptance, and risk undermining future investments to benefit consumers and the agricultural sector.

Milk production for 2024 in Australia is forecast to increase by 0.6 percent to 8.50 million metric tons (MMT) after stabilizing in 2023 at an estimated 8.45 MMT from previous years of declining production. The forecast is amid an El Niño weather pattern in late 2023, likely to continue into 2024.

The Australian federal government supports biotechnology and has committed considerable long-term funding to research and development.

World peach and nectarine1 production has seen significant growth in the past decade, rising more than 20 percent from 19.6 million tons to 24.2 million in 2022/23.

Wheat and barley crops have had a great start to the season, with high soil moisture reserves and good rains in the fall. But rainfall has been well below average from July to September 2023.

Chickpeas, also known as garbanzo beans, are a legume full of protein, fiber, complex carbohydrates, and are relatively low in calories. Chickpeas are used in many Indian and Mediterranean dishes. Australia, India, and Canada are the top three chickpea exporters accounting for more than 40 percent of the world’s exports in 2022. Pakistan is the largest importer, followed by the European Union, Bangladesh, and Turkey.

Australia’s table grape production is expected to increase to a record 220,000 MT in marketing year (MY) 2023/24 from an estimated 210,000 metric tons (MT) in MY 2022/23.

Turkiye’s HRI sector continues to grapple with rising inflation and economic uncertainty, while sales in terms of U.S. dollars have yet to recover to pre-pandemic levels.