Farm value to rise
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Tuesday, 30 March, 1999 - 22:00
A MODEST increase in the net value of farm production is forecast in 1999-2000 according to the March issue of ‘Australian Commodities - Forecasts and Issues’ released last week by ABARE.
The net value of farm production (the residual between gross value and costs) is expected to rise by 6% to $3.7 billion in 1999-2000 following an estimated 12% fall in 1998-99.
The estimates are largely based on a forecast increase in crop production and a slight rise of 1% in the average prices received for farm production following an estimated 4.5% fall in 1998-99.
Lower prices for sugar, cotton, and dairy products are expected to largely cancel modest increases in the prices of wheat, beef and wool.
The net value of farm production (the residual between gross value and costs) is expected to rise by 6% to $3.7 billion in 1999-2000 following an estimated 12% fall in 1998-99.
The estimates are largely based on a forecast increase in crop production and a slight rise of 1% in the average prices received for farm production following an estimated 4.5% fall in 1998-99.
Lower prices for sugar, cotton, and dairy products are expected to largely cancel modest increases in the prices of wheat, beef and wool.