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Grain prices to firm over next two years
1 Mar 2006
The Australian Bureau of Agricultural and Resource Economics expects grain prices to rise in 2006 and 2007. In a paper prepared for the Outlook 2006 conference, ABARE said a reduction in world supplies of grains and oilseeds, along with growing demand, would support an increase in prices. The chief driver in demand for feed grains is from intensive livestock industries. ABARE said the medium term outlook for grains would depend on demand for grains for industrial purposes, particularly in the ethanol and biodiesel industries, as well as demand from China, Russia and Brazil.
ABARE, 01/03/06
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