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Farm incomes to fall over the next year
2 Mar 2005
The Australian Bureau of Agricultural and Resource Economics predicts average farm incomes in the broadacre industries would fall to $61,500 next financial year, falling from $67,040 in 2004/05. ABARE expects farm incomes nationally would fall to $8.8 billion in 2005/06, down by about $700 million. ABARE expects farm incomes to rise in New South Wales, Queensland and Tasmania, but to fall elsewhere. Dairy farmers can expect a rise in income, one of the few sectors where farm incomes will rise. ABARE said it expected farm exports to be worth $28.2 billion in 2005/06, up $240 million on the previous year.
The Advertiser, 02/03/05
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