Metadata
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]
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