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Big Dry blamed for downturn in Victorian exports
17 Sep 2003
Victoria's economy has been especially hard hit by the once-in-a-hundred-years drought, with figures from the Bureau of Statistics showing exports in May fell 23.7 per cent against the same period in 2002. This compares with an 18.4 per cent fall in NSW and the national average 9.8 per cent downturn.
The Victorian Government said the drought had had a greater impact on Victorian exports than other states', partly because the dairy industry is so reliant on irrigation allocations.
Victorian food exports for the year to June 30, 2003 were down 24 per cent from $6.3 billion to $4.8 billion. Dairy products declined by $735 million, wheat exports by $643 million, and meat exports were down $85 million.
A large percentage of Victorian dairy farmers lost money over 2002-2003. VFF president Paul Weller said farmers had to buy feed just to keep their cattle alive. Many sold off their herds, and it will take years to build the state's dairy production back up. It was inevitable that some farmers didn't survive.
It was a very tough year, Mr Weller said. Grain exports fell from 7 million tonnes to 2 million tonnes, dairy production fell from 7.4 billion litres to 6.4 billion litres.
Australian Financial Review, 17/9/03.
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