20 June 2012
Minister for Agriculture, Fisheries and Forestry, Senator Joe Ludwig, has welcomed the latest forecast that Australia’s rural export earnings are forecast to remain high in 2012-13.
Minister Ludwig said the agricultural sector can be reassured by the forecasts in the Agricultural Commodities – June quarter 2012 report released today by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
“Today’s report shows that Australia’s agriculture, fisheries and forestry sectors continue to provide world class products for global markets,” Minister Ludwig said.
“The report has forecast agricultural export earnings to be around $34.4 billion in 2012-13.
“This is a positive result for the sector, with agricultural export earnings above the long term average.”
Minister Ludwig said this figure was slightly lower than earlier forecasts, affected by lower prices for some commodities.
“While there has been a slight decline in commodity prices, continued demand in the Asian region and consistent quality products continue to ensure Australia’s export competitiveness on the world stage,” Minister Ludwig said.
“Flooding in Australia in 2011-12 impacted some farmers and reduced production in the affected areas. However, the widespread rainfall in other districts has supported strong forecast figures.”
Minister Ludwig said the report also forecast increases in the fisheries and forestry sectors.
“It is pleasing export earnings from forest products are forecast to increase to $2.4 billion and export earnings for fisheries products are forecast to rise to around $1.3 billion in 2012-13,” he said.
Agricultural Commodities–June quarter 2012 is available at ABARES publications.