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Listed agriculture looks good
22 Aug 2008
Australia''''''''s listed agribusiness sector has delivered its third consecutive month of negative returns and is starting to realign itself with the broader market. However, despite this continued decline, the sector is still one of the market''''''''s strongest performers year-on-year and its outlook for the coming 12 months remains very positive. According to the August Commonwealth Bank Agri Indicators Report, the Agri sector has shed 8.8 per cent of its value over the past month, whilst the S&P/ASX 200 accumulation index has experienced a slight recovery with gains of 1.6 per cent in the same period. Despite this recent decline, the sector has experienced a stellar run over the past 12 months, reaping investors returns of 9.3 per cent and outperforming the broader S&P/ASX 200 index by more than 20 per cent. Looking ahead, the consensus forecast for Agri remains at 37 per cent – 13 per cent more than the broader market.
Commonwealth Bank, 22/08/2008
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