July 2, 2007

Australia sees strong growth on grains, slowdown for beef this year
 

A new commodity report predicts the big grain producing states of Western Australia, South Australia and New South Wales will enjoy their strongest growth since the 1980s as conditions improve.

Westpac's regional winter report says agribusiness will bounce back strongly despite the effect of higher production on commodity prices and a strong Australian dollar.

But the report warns that Queensland's beef producers are likely to suffer a drop in demand with the re-entry of United States exporters into north Asia.