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Broad-based rise in commodity prices
9 Aug 2005
The recent rains and rising prices, especially for beef, are pointers to improved prospects for the rural sector. The Westpac-NFF Rural Commodity Price Index increased by seven per cent in July, the second consecutive monthly rise of seven per cent. Beef prices increased by 13.1 per cent; sugar by eight per cent; barley by five per cent, while other grains increased by only one or two per cent. The NFF said the rain in June and July provided relief for many farmers, with good-sized crops now under way in all states, except in parts of NSW.
The Age, 09/08/05
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