Export earnings above average despite farmgate earnings fall
A FALL in farm gate export earnings is expected next financial year, with the latest agriculture commodities report showing a slowdown since last year's $41 billion bumper season.
But export earnings forecasts from the ABARES released on Tuesday showed despite the fall, both farm production and export earnings for 2014-15 were still expected above the 10-year average.
The fall, a 6.2% drop in farm export earnings expected in 2014-15, will still show earnings of about $38.5 billion.
ABARES executive director Karen Schneider said the forecasts showed earnings were still forecast to sit about 9% above the decade to 2012-13.
"The fall in export earnings follows a forecast 4.6% decrease in the volume of farm production in 2014-15, compared with the estimated increase of 6% in 2013-14," she said.
"Export earnings in 2014-15 are forecast to fall for both crop products, by 9.6% to $20.4 billion, and livestock products, by 1.9% to $18.1 billion."
Commodities exports expected to take a hit next financial year include barley, canola, beef and veal, rice, horticulture products and mutton, while rises were forecast for live cattle and sheep and sugar.