The Black Sea Region will continue to transform the global wheat market, creating long-term challenges for Australia’s market share, particularly in South-East Asia, warns a just-released industry report.
The Australian wine sector is in its strongest position in more than a decade, with historically high production levels matched by sales growth, and reasonable inventory levels, according to the findings of the Australian wine: production sales and inventory 2016–17 report published.
The Australian dairy industry looks to have normalised, with a decent seasonal outlook and better farmgate prices encouraging increased production, according to the latest NAB Agribusiness Dairy in Focus report.
Poor climate conditions in grain-growing regions have contributed to the gross value of farm production being forecast to reach $59 billion in 2017-18, down seven per cent from a record of $63 billion in 2016-17, according to the ABARES report – Agricultural commodities, December quarter 2017.
Cattle prices are expected to ease during 2018 before stabilising at a level higher than the five-year average, according to Rural Bank’s new Australian Cattle Annual Review.
The impact of seasonal conditions on restocker interest has been the major driver of Australian cattle prices over the past 12 months, and is continuing to make forecasts difficult.
Record wood product exports worth $3.4 billion and a record log harvest of 33 million cubic metres valued at $2.5 billion were the highlights of a great year for Australia’s forestry sector in 2016-17.
A report released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) highlights that Australia’s forestry sector is continuing to enjoy some of the best conditions in its history.