Australia: Australia is facing one of the worst droughts in a century

Canadian grain exporters after several tough years believe they stand to reap benefits from a deadly dry spell hitting rival farmers of Australia. Australia, a fiercely competitive exporter of beef, wheat, barley and canola, appears headed for one of the worst droughts in a century, Reuters posted on May 5. That means its ability to serve key customers could soon suffer, leaving market share for Canada to fill.

Plus, the Canadian Wheat Board, which markets billions of dollars of wheat and barley abroad, sees opportunities in China and Italy where Australia could be hard-pressed to deliver product. Canada and Australia compete head to head around the world in several grain products -- including high-quality durum wheat, which is used to make pasta -- and malting barley, employed in brewing beer.

Rick Steinke, director of market analysis at the Canadian Wheat Board, said Canadian barley sales to China should flourish. The wheat board already has a one-third to one-half share of the Chinese market, a stake worth $160-million.

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