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Farmers ready to plant dollars in the ground
25 Feb 2008
Farms are expected to invest more than $3.2 billion in planting a winter crop this year and according to NAB's general manager of agribusiness, Khan Horne, the wheat crop alone could top 30 million tonnes. "It would be tremendous for the Australian economy if we do. There is a lot of optimism, but it is reliant on the weather," he said. However Mr Horne also warned that there were difficulties such as higher fertiliser prices and a shortage of labour because of low unemployment and competition with the mining sector. Farm management deposit levels have remained above $2 billion since June 2003 but Mr Horne said that they are seeing indications that people will be drawing on these funds to plant the next crop.
The Australian, 25/2/2008
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