Agricultural commodities: September quarter 2018
The September edition of Agricultural commodities contains ABARES latest outlook for Australia's key agricultural commodities in 2018-19. This release is an update to the outlook released in March 2018.
Australian farm production is forecast to be relatively unchanged, and remain above the 10-year average of $56 billion.
World growth to be 3.9% in 2018 and 2019 despite increased trade tensions and political uncertainty.
Drought conditions are affecting crop and pasture production in eastern Australia. In the west, winter rain has boosted production.
Adverse seasonal conditions to lower global production and drive wheat prices higher.
Barley prices to increase due to falling world coarse grain stocks.
Canola prices to rise, reflecting an increase in Chinese imports and a fall in exportable supplies.
Record world cotton demand to increase prices and lower stocks.
Sugar prices to fall to a 17-year low, driven by record world supplies.
Horticultural exports to increase, reflecting rising demand from Asia for fresh produce.
Beef and veal
Australian cattle prices to fall due to higher production and export market competition.
Lamb prices to rise, driven by strong export demand.
Declines in Australian wool production and sustained global demand to support high prices.
Milk prices to rise due to a falling Australian dollar and increased competition for milk.
Reduced production and sustained demand to support prices.
If you have any feedback about this publication or our forecasts, please contact us at ABARES Commodities.
|Agricultural commodities – September 2018 PDF||55||6 MB|
|Forecast data – September 2018 XLS||40||3.2 MB|
|Statistical tables – September 2018 XLS||40||3.2 MB|
|Infographics – September 2018 PDF||3||500 KB|
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