19 December 2012

2 minute read

Oceania

Released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), Agricultural Commodity Statistics 2012 provides its annual update of statistics on Australian and world prices, production, consumption, stocks and trade for around 20 commodities.

“This report is a valuable resource, containing statistics on agricultural water use and macroeconomic indicators such as economic growth, employment, balance of trade, exchange rates and interest rates,” Minister Ludwig said.

“It shows Australia’s agriculture, fisheries and forestry sectors continue to provide world class products for global markets.

"The value of farm exports increased by around 14.5 per cent in 2011–12 to $36.4 billion and the volume of farm production increased by around 4 per cent in 2011–12, driven by a 10.6 per cent increase in the volume of grains and oilseeds production.”

Minister Ludwig said that after two years of high production, the value of grains and oilseeds exports increased by around 31 per cent in 2011–12 to $11.1 billion.

“This has been a promising recovery for the sector after the difficult seasons of the last decade,” Minister Ludwig said.

Minister Ludwig said that ABARES is forecasting another sound outcome for farmers in 2012–13 in its latest Agricultural commodities publication.

“I’m also looking forward to ABARES five year projections, which will be presented at the national outlook conference in March next year,” Minister Ludwig said.

“Presenters attending the 2012 conference delivered thought–provoking presentations and I look forward to being a part of next year’s conference.”

TheCattleSite News Desk