Low rainfall and high $A impacts farmers

July 13, 2017

Many of Australia's agricultural regions have endured the driest June on record.

The driest June on record for many of Australia's productive agricultural regions has hit Australia's wheat production, and the high value of the Australian dollar is impacting the return on wine exports, says agricultural banking specialist Rabobank.

In its Agribusiness Monthly report for July, Rabobank says wheat yields have been downgraded in cropping regions in Western Australia, South Australia and northern NSW as crops face moisture deficits.

Meanwhile, although the Australian dollar has slipped considerably against the US dollar since 2011, its rise against the currencies of other wine exporters such as Chile and New Zealand has given Australia's competitors a cost advantage.

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