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Farmers getting richer, despite the drought
30 Mar 2005
Farmers usually say that things are always crook in the bush, but these days they would be kidding. According to the Australian Bureau of Agricultural and Resource Economics, the average return on investment in farming over the past five years was higher than for either the money or equity markets. This is despite the fact that the period includes the most "exceptional" drought that any tear-choked farmer or rural politician can remember. ABARE's latest report on farm performance shows that in the three years to 2003-04 the average broadacre farm achieved a rate of return on investment of almost 8 per cent. And farmers' equity in their businesses at the end of last financial year was higher than in any year since the 1980s.
Financial Review, 30/03/05
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