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Farm pain to drag on: forecaster
22 Jun 2004
Australian mining exports are set to rise 19 per cent to a record $63 billion in 2004-2005, while farmers continue to struggle to overcome the impact of the drought, according to ABARE's latest quarterly outlook. The value of farm exports is expected to rise 6 per cent to $26.7 billion, but the net value of farm production is likely to be down 16 per cent to $5 billion.
A record 12.5 million hectares of wheat will be planted, but the total harvest is likely to be down from last year to 23.2 million tonnes and worth $4.2 billion in export sales. Coarse grain production, such as barley, is expected to fall 6.9 per cent to 12.1 million tonnes, with the value of exports down 1.2 per cent to $1.2 billion.
Livestock farmers continue to suffer, with exports expected to be down for the second consecutive year to $12.1 billion. The expected recovery in livestock numbers has slowed over recent months as increased turnoff followed dry seasonal conditions and poor pasture quality throughout much of south eastern Australia, ABARE stated.
The value of dairy exports is expected to rise due to higher domestic milk production and international prices.
The Age, 22/6/04.
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