|
|
|
Pessimism worsens in agricultural sector: survey
1 Jun 2004
Australia's farmers are more pessimistic than they have been for two years, according to Rabobank's latest survey. Confidence has fallen for the fourth consecutive time, and only 16 per cent of farmers believe conditions will improve over the next 12 months. The survey found that 36 per cent of farmers expect that the drought will lead to deteriorating economic conditions, compared with 10 per cent in the previous quarter.
However, Rabobank said the survey was taken before widespread rains over the last week in many regions which could see a turnaround in farmer confidence in coming months.
Rabobank said the fall in confidence in almost two years resulted from growing concerns about prolonged dry weather and low commodity prices. Although recent rains have given farmers some hope, a lot more follow-up rain is needed.
The Age, 1/6/04.
|
|
