Virtually all of Australia’s sugarcane crops in the state of Queensland are enduring severe flooding in the wake of Tropical Cyclone Oswald reported Commonwealth Bank of Australia. Some irreversible damage is expected, particularly around Bundaberg and Maryborough which is experiencing its worst flooding on record. Both these areas produce some 3 million tonnes cane annually. In 2010, flooding wiped out some 20% of the cane crop resulting in farmers taking a hit of around AU$500 million (US$522 million), according to the industry body Canegrowers. Steve Greenwood, head of Canegrowers was quoted by Wall Street Journal as saying that “A lot… Login to continue

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