Agriculture exports affected by dollar
The latest Australian Bureau of Agricultural and Resource Economics (ABARE) report contains a downward adjustment for agricultural export earnings in the 2009/10 financial year, due to the high Australian dollar.
“Although winter crop production is forecast to increase in 2009/10, an assumed higher average value of the Australian dollar is expected to lead to lower farm export earnings in the short term,” said Dr Terry Sheales, ABARE’s deputy executive director.
ABARE forecast that the value of farm exports would fall 2.5 percent to $31.1 billion over the same period, despite a significant rise of 16 percent during the 2008/09 financial year.
Commodities expected to performed strongly include pulses, as well as oats, rice, raw cotton and sugar while earnings from wheat, canola, wine, livestock and livestock products are expected to decline.
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