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Cane growers hit by rising dollar
5 Oct 2007
Strong sugar prices are being soured by the rising Australian dollar. Prices for the 2007 harvest are now around $260-$275 per tonne when the break-even point for growers is $300-$305 per tonne. Canegrowers general manager Ian Ballantyne said "If the prices stay in the mid-$200's range, I think we could lose at least another 10 per cent, or 400 growers, in the next two years". More farmers are looking to the relatively reliable water supplies in north Queensland and even cane growers get around 20 per cent of their total farm income from non-cane sources. "There will be much greater competition for cane land over the next five years. They are already seeing trials of cotton in the Burdekin in North Queensland," said Mr Ballantyne.
Financial Review, 5/10/2007
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