ABARES Weekly Australian Climate, Water and Agricultural Update

During the week ending 15 January 2025, low-pressure systems brought signifcant rainfall to northern and eastern Australia:

• Many northern cropping regions, including areas in Queensland and northern New South Wales, experienced substantial rainfall, with totals ranging from 5 to 100 millimetres.

• In contrast, southern cropping regions remained relatively dry, receiving only 0 to 10 millimetres of rain.

• The signifcant rainfall in eastern areas is likely to have improved soil moisture levels, providing a boost to summer crop production.

Weather Outlook

Over the next eight days, low-pressure systems are forecast to bring rainfall to northern, eastern, and western parts of the country:

• Cropping regions in Queensland, northern New South Wales, and Western Australia may receive up to 25 millimetres of rainfall.

• Minimal to no rainfall is anticipated for other cropping regions.

Global Crop Production Overview Global crop production prospects remain mixed due to varying rainfall conditions in December 2024:

• In the southern hemisphere, rainfall was generally average to below average across major cropproducing regions, except for isolated areas in Australia and Indonesia.

• In the northern hemisphere, conditions were uneven, with below-average rainfall affecting much of the United States, parts of the European Union, and China.

Murray-Darling Basin Update

The Bureau of Meteorology (BOM) reports that water storage levels in the Murray-Darling Basin (MDB) decreased by 178 gigaliters (GL) between 9 and 16 January 2025. The current water storage volume is 15,278 GL, representing:

• A 17% decline compared to the same time last year.

• 69% of total storage capacity.

Water Allocation Prices

As of 16 January 2025, allocation prices in the Victorian Murray below the Barmah Choke are $158. Prices in regions above the Barmah Choke remain lower due to the binding constraints on trade through the choke.