China is expected to ban imports of Australian wheat, putting a US$394 million trade in doubt, with the grain the latest to join a list of new blocks on Australian products, according to industry sources.
According to the South Morning China Post, barley, sugar, red wine, timber, coal, lobster, copper ore and copper concentrates from Australia, are expected to be barred from China even if the goods have been paid for and have arrived at ports. The ban on wheat is likely to follow, although a date has not yet been set, sources said.
China has already bought large amounts of wheat from France, Canada and Australia this year, while its wheat commitments with the United States are also near a four-year high, S&P Global Platts added.
China has projected it will raise its annual wheat purchases to 6 million tonnes from June, up from 4 million tonnes a year earlier.
