Aussie Ag Income Sinks 17% in 2002-03

CANBERRA - Jan 28/04 - SNS -- Australian agricultural incomes experienced severe downward pressure during the 2002-03 season, with the gross value of commodities produced sinking 17% to AUD$33.0 billion, according to the Australian Bureau of Census (ABS).

"The prolonged drought saw decreases in the gross values of all major categories of agricultural production (crops, livestock slaughterings and other disposals, and livestock products) with significant falls in production levels partly offset by increases in prices for some commodities," the federal statistical agency said.

In 2002-03, the gross value of crops fell by 26% to $15.9 billion. Decreases in gross value were recorded for all major cereal crops: wheat for grain fell by 59% to $2.6 billion; barley for grain fell by 48% to $890 million; grain sorghum fell by 10% to $316 million; oats for grain fell by 16% to $211 million; and rice for grain fell by 51% to $160 million.

"These decreases were mostly due to significant falls in estimated production, since strong demand for feed grain fuelled increases in average prices," ABS said.

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