Grain growers are preparing for tens of millions of dollars in losses after floods ripped through some of the east coast’s most productive grain growing regions over the weekend.
NSW Farmers calculated $150 million had been wiped off the value of grain production in Moree alone, after a 100km-wide flood front sent crops across the region underwater.
Grain Producers Australia chief executive Colin Bettles said wheat producers delivering to Moree were looking at discounts of $120 a tonne if APW milling grade wheat was marked down to feed grade as a result of flood damage.
Barley producers could expect losses of between $80 and $90 a tonne if malting barley was marked down to feed grade.
The losses would be a huge blow to producers, who had spent record totals on fertilisers and other inputs this year, he said.
“This is the most expensive crop that has ever been planted. There’s a lot of grain that we expect will have suffered quality damage. The lost value … includes reduced yields and the actual loss of crops that won’t be harvested,” Mr Bettles said.