Bad numbers temper good
Food exports up, but at what cost to farmers?
Added 2 years ago
MPI’s latest Situation Outlook for Primary Industries, issued late last year, projects a record $55 billion in food and fibre export returns by June next year. But …
At the same time, farm expenses have also climbed dramatically: overall, up 15% Sep 2022 over 2021; fuel up 53%; fertiliser up 37%; weed and pest control up 21%; debt servicing up 34%. Meantime a year-end survey by Federated Farmers placed the average farm overdraft at $328,000 with an interest rate of 8.59%.
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