Farm outlook brighter

FARMERS can look forward to a brighter future for 2000-01, according to forecasts by the Australian Bureau of Agricultural and Resource Economics outlined in the June quarter issue of Australian Commodities.

The net value of farm production is forecast to rise 13 per cent to $4.6 billion following a 12 per cent increase in 1999-2000.

“Higher world economic growth is expected to lead to an increase in demand for food, wool, feed grains and oilseeds,” the report said.

Total farm exports are expected to rise almost 5 per cent to $25 billion in the coming year.