Agricultural exports play a critical role in Victoria’s economy, representing seven of the ten largest container export commodities from Port of Melbourne. Grains – which include wheat, barley, canola, malt, cereals, and oats – comprise the largest container export commodity at Port of Melbourne. Of this commodity group, wheat took the lead with 42,000 TEU (Twenty-Foot Equivalent Units) leaving the Port in 2024.

Significantly, grain exports experienced a 36 per cent compound annual growth rate (CAGR) from FY19 to FY24, representing the biggest volume of grain exports in the Port’s history. At its peak, in FY24, 3.37 million metric tonnes of grains were exported through Port of Melbourne, securing a 30 per cent share of exports at the Port.

In FY19, grain exports experienced a downturn attributed to drought conditions – dropping to 0.7 million metric tonnes. Grain exports have since experienced a robust resurgence, supported by growing export volumes to China, Indonesia, and Vietnam. 49 per cent of total grain exports are destined for these three countries.

China, in particular, has emerged as a dominant importer of the Port’s grains. From FY23 to FY24, grain shipments from Port of Melbourne to China experienced a 77 per cent year-on-year growth. Other major grain importers include Indonesia, Vietnam, Philippines, Japan, New Zealand, Malaysia, and Thailand, cumulatively taking a 47 per cent share of total grain exports from Port of Melbourne.

Port of Melbourne Head of Business Development, Leatrice Treharne, said:
“Year-on-year FY23 to FY24, Port of Melbourne has seen a 5 per cent uplift in grain exports, with grain remaining our number one export commodity at 30 per cent of total exports through the Port. China’s position as the dominant importer underscores the strategic importance of this trade relationship, with barley showing the strongest percentage growth year-on-year across all grain commodities.”

“Port of Melbourne looks forward to continuing to work with our grain growers, exporters, and supply chain partners, whose commitment to supplying quality grains to global markets contributes significantly to the prosperity of our state and national economy.”

Port of Melbourne is a proud sponsor of the 25th Australian Grains Industry Conference (AGIC 2024) in Melbourne on 31 July and 1 August 2024.

For more information contact:
Nicole Ng
Mobile: 0427 700 844
Email: nicole.ng@portofmelbourne.com