Agricultural commodities: June quarter 2013
by
ABARES
Title
:
Agricultural commodities: June quarter 2013
Series
:
Agricultural commodities
Series Issue
:
June Quarter 2013
Publication Date
:
18/06/2013
Description
:
This report contains ABARES' latest outlook for Australia's key agricultural commodities in 2013-14. This edition of Agricultural commodities updates the forecasts for 2013-14 released by ABARES in March 2013.
Key Issues
* The total value of Australian agricultural, fisheries and forestry exports is forecast to be around $39.3 billion in 2013-14, 2.6 per cent lower than the estimated $40.3 billion in 2012-13.
* Farm export earnings are forecast to decline by 3.2 per cent in 2013-14 to $35.8 billion, following an estimated increase of 1.9 per cent in 2012-13 to $37 billion. This forecast of farm export earnings in 2013-14 is marginally higher than the forecast of $35.6 billion released by ABARES in the March 2013 edition of Agricultural commodities.
* Although marginally lower than in 2012-13, farm export earnings in 2013-14 are forecast to be around 16.3 per cent higher than the average of $30.8 billion in nominal terms recorded over the five years to 2011-12.
* Export earnings from crops are forecast to decline by 6.5 per cent in 2013-14 to around $20.7 billion, following an estimated rise of 2.7 per cent in 2012-13.
* Export earnings from livestock and livestock products are forecast to increase by 1.7 per cent in 2013-14 to $15.1 billion, after increasing by an estimated 0.6 per cent in 2012-13.
* Export earnings from forest products are forecast to increase by 6.3 per cent to $2.2 billion in 2013-14, following an estimated decline of 5.5 per cent to $2.1 billion in 2012-13.
* Export earnings from fisheries products are forecast to remain largely unchanged at around $1.2 billion in 2013-14, following an estimated decline of 3.7 per cent in 2012-13.
* The gross value of farm production is forecast to increase by 1.0 per cent in 2013-14 to $47.7 billion, after declining by an estimated 1.5 per cent to $47.3 billion in 2012-13.
Economic assumptions underlying this set of commodity forecasts
* In preparing this set of agricultural commodity forecasts, world economic growth is assumed to be 3.9 per cent in 2014 and 3.2 per cent in 2013.
* In Australia, economic growth is assumed to average 2.75 per cent in 2013-14, compared with growth of 3.0 per cent in 2012-13.
* The Australian dollar is assumed to average US98 cents and TWI 75 in 2013-14, down from an estimated US103 cents and TWI 78 in 2012-13.
Resource URL Description
:
0 : Agricultural Commodities: June quarter 2013 - Report - PDF [6.2 MB]
1 : Agricultural Commodities: June quarter 2013 - Report - in MS Word 2003 - web accessible - MS Word [3.9 MB]
2 : Agricultural Commodities: June quarter 2013 - Report with lower resolution images - PDF [4.8 MB]
3 : Agricultural commodities: June quarter 2013 - Commodities - data tables - MS Excel [0.3 MB]
4 : Agricultural commodities: June quarter 2013 - Statistics - data tables - MS Excel [0.7 MB]
Resource URL
:
1027368
Publisher
:
ABARES : Australian Bureau of Agricultural and Resource Economics and Sciences : Department of Agriculture
Author
:
ABARES
Right Management
:
Use constraints: copyright
Other constraints: Licence type:Copyright
Other constraints: All material in this publication is licensed under a Creative Commons Attribution 3.0 Australia Licence, save for content supplied by third parties, logos and the Commonwealth Coat of Arms
Other constraints: This publication (and any material sourced from it) should be attributed as: ABARES 2013, Agricultural commodities: June quarter 2013. CC BY 3.0
Identifier
:
ISBN 978-1-74323-139-5
ISSN 189-5629
Asset Name
:
pb_agcomd9abcc004201306_11a