Audio script:

Welcome to the first Pasta Parcel of the season, our short monthly Durum market update. I’m Jaimee Maunder, and this month, we’re coming to you from Moree.

The Durum plant commenced late May with 70% of the Durum now in the ground.

The area has received above average rainfall making favourable sowing conditions with full profiles. The areas still left to plant will be waiting for the drier week to finalise planting. The long-range forecast is looking positive for another great Durum crop.

On international demand, the U.S./Canadian crop is being watched closely as exceptional drought conditions continue across much of the U.S. Northern Plains and the Canadian Prairies. The main U.S./Canadian Durum growing areas did receive widespread beneficial rains in the past two weeks, but drought conditions and impacts from the drought will continue, and likely through to harvest.

The Italian harvest is just beginning in Southern Italy with average yields and quality being reported with good weather expected for the remainder of the harvest.

World demand is going back to 2019 pre pandemic levels, after seeing record pasta demand during the pandemic. Italy and Turkey exported record amounts of pasta during 2020/21. U.S./Canada ending stocks are the smallest since 2014/15. Prices look to remain stable with limited potential for decrease while premium to milling wheat is expected to tighten. Upside export prices potential is capped with elevated ocean fright levels.

New crop Durum delivered Moree is $320/MT today (Friday 18th June) and Newcastle is $366/MT.

Thanks for watching the first episode of the Pasta Parcel for 2021. If you’d like to have a more detailed chat about the Durum markets, don’t hesitate to give me a call on 0438 578 216.

And keep an eye out for next month’s update with Bobbi Ryan.



Thanks.