December 20, 2011

Australian farm exports seen at 6% higher

The agricultural commodities of Australia for the December quarter 2011 report estimated the farm exports value to increase around 6%, to US$34.5 billion, in 2011-12.

The report, released by Australian Bureau of Agricultural and Resource Economics and Sciences, reflected expectations of higher exports and relatively favourable agricultural prices.

Agriculture, Fisheries and Forestry Minister Joe Ludwig said the forecast was welcome news for wheat producers, whose export earnings were expected to rise by 3%.

''During my visit to North Asia this past week, I've been encouraged to see so much Australian produce on supermarket shelves,'' Ludwig said. ''ABARES forecasts the demand for agricultural products in the Asian region is expected to remain strong, with more than 60% of Australia's farm exports to the Asian region in 2010-11.''

Ludwig said the forecasts were evidence of the hard work and ground-breaking approaches adopted by Australian producers.