EXPORTS are set be the main driver of on-farm profitability as they jump more than $3 billion in the next four to five years, according to information to be released today at ABARE’s Outlook conference.
Farm exports are expected to bring in about $29 billion dollars in 2009-10 and 2010-11, before increasing more than 10 per cent to $32.2 billion in 2014-15.
Recovering economic conditions and a favourable season will underpin this growth, as Australia’s total commodity exports (including minerals, energy and agriculture) shoot up an expected 30 per cent by 2015.
Despite an increase in world supplies hampering the export potential of most grains, barley is expected to do well in 2010-11, as is rice, raw cotton, sugar, wine, live cattle and dairy products.
However, beef and veal exports will likely face pressure from herd rebuilding and stronger competition in overseas markets.
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