Canberra, Australia
February 13, 2009
USDA/FAS GAIN report AS 9005
Report highlights:
Recent global financial
turmoil has gained widespread media attention in Australia
and has driven significant (if not profound) changes in
expectations for key economic indicators. Falling commodity
prices will likely be offset (at least partially) by falling
input costs. A depreciated Australian dollar will also
greatly assist returns for exports and improved export
competitiveness. Disparity in depreciation of these prices
will likely provide major challenges for agriculture
producers. Another challenge for Australian agricultural
industries is the declining demand in key export markets.
Australia exports around two thirds of total agricultural
production and thus remains highly reliant upon export
market factors.
Full report:
http://www.fas.usda.gov/gainfiles/200902/146327238.pdf
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