Canberra: According to experts cited by Bloomberg on Tuesday, the unusually dry weather in Canada may put the world's wheat supply in jeopardy.
Some areas of the Canadian Prairies are experiencing the second-driest start to the year in almost 50 years, according to David Streit, head meteorologist at Canada's Commodity Weather Group.
Major spring farming areas in Canada, including Alberta, Saskatchewan, and Manitoba, recorded less than 60% of the average precipitation since September 1 of the previous year, according to the Agriculture Ministry of Canada.
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Wheat and canola crops cannot be planted on the farmland because of the lack of rain.
Bill Prybylski, a farmer and vice president of the Agricultural Producers Association of Saskatchewan, told Bloomberg that it can be challenging to plant seeds at the proper depth in the soil because moisture is necessary for their germination.
Canola and wheat are two crops that Canada produces in large quantities. According to state statistics, the nation produced 18.2 million tonnes of canola and 33.8 million tonnes of wheat overall last year,
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which is the third highest amount on record. These volumes, though, were the result of favourable weather, whereas experts warn that the current drought may seriously harm this year's chances for a good harvest.
The global grain market may not be significantly impacted by the decline in Canadian crop yield as Western analysts anticipate.
The largest exporter of wheat in the world, Russia, reported a bumper crop in 2022, harvesting over 150 million tonnes of grain, an increase of almost 30% from 2021, with over 100 million tonnes of wheat.
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The country recently revised its export forecast higher, from 50 million to 55-60 million tonnes of grain in the current crop year, due to increased global demand, despite Western sanctions that indirectly caused problems for Russian grain exports.