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Agribusiness stocks outperform market
24 Jan 2008
Agribusiness shares are bucking the trend with some improving while the rest of the market plummets. While the All Ordinaries has lost 19 per cent since the start of the year, agri-stocks have fallen by only 19 per cent and a number have actually increased. Australian Agribusiness Group, which tracks the performance of 52 ASX listed agricultural stocks, reports that GrainCorp shares are up 9 per cent and Franklin River Olives has increased 20 per cent. Director Tim Lee said that over the past 20 to 30 years the agricultural economy had been driven by supply, but demand has taken over due to China and ethanol. The agricultural sector in Australia employs around 670,000 people and generates total local and export sales of about $111 billion every year.
The Australian, 24/1/2008
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