Australian wheat exporters pull back from China market

Wheat is harvested near Moree, Australia, on Oct 27, 2020. - Reuters

BEIJING/SYDNEY (Reuters): China's wheat buyers are scrambling to source low-gluten wheat for the country's booming fancy bakery market, traders said, as exporters in key supplier Australia shy away from striking sales deals amid escalating trade tensions.

The unusual move by Australian exporters to hold back from offering grain in the Chinese market comes even as the country harvests one of its largest-ever crops while demand from the world's second-biggest economy has surged.