AU Dollar Hitting Livestock and Mining Exports
September 25, 2009
Livestock exporters will get lower prices this financial year, according to forecasts from the Australian Bureau of Agriculture and Resource Economics (ABARE). ABARE says the high Australian dollar and expected poor spring conditions will lead to a 7-percent drop in export prices.
Barley, chickpea, lupin, rice and sugar prices are expected to push the overall export earnings for the cropping sector up by 2 percent.
Australia's energy sector is expected to earn $38 billion less than last financial year, partly because of the higher dollar.
Reprinted from ABC Australia
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