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Outlook not so strong for grain prices
9 Mar 2005
Australian grain farmers are likely to enjoy higher prices in 2005/06, but in the medium term, prices are projected to fall in real terms, the Australian Bureau of Agricultural and Resource Economics has forecast. ABARE said world wheat consumption would ease in 2005/06, pushing down prices, but a larger decline in world production would offset this and raise prices. The pool return for Australian premium white wheat would remain at about $200 a tonne, while feed barley prices would rise by 4 per cent to $165 and canola would rise 5.1 per cent to $368. ABARE said that assuming normal rainfall, Australian grain production in 2005/06 would be 38 million tonnes.
The Age, 09/03/05
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