The NAB Rural Commodities Index rose 2.1 per cent in October 2017, the first increase since May 2017, driven largely by an increase in cattle prices.
Sustained dry weather conditions have significantly cut Australian winter crop production, with the upcoming grain harvest now expected to come in 41 per cent below 2016/17, and well below the five-year average, according to Rabobank’s latest crop forecast.
Murray Goulburn suppliers reacted with shock to news the dairy co-op had accepted a $1.31 billion buyout from Canadian company Saputo, but Victoria’s dairy farmer group is hopeful the deal will help repair confidence in the industry after a tempestuous two years.
Albury sauce and dressing business, McGrath Fine Foods, is taking the lead by rolling out Australia's new Country of Origin Labelling (CoOL) early, making it easier for consumers to buy locally made products.
New Zealand dairy farmers have a global edge in terms of productivity and profitability, but the industry needs to remain ambitious about keeping that edge against the best in the world.
Victoria has set a new record with food and fibre exports reaching $12.8 billion – the biggest total in the state’s history.
The value of Australia’s sheep meat exports has increased 24 per cent year-on-year, driven by the value of lamb exports increasing by more than 20 per cent when compared with 2016 figures, according to Rural Bank’s latest Australian Sheep Update.
The European wine grape crop has been hit hard by adverse weather, and with global inventories already tight, the wine available for consumption around the world will be at its lowest point in decades, according to Rabobank’s latest Global Wine Quarterly report.