A domestic biofuels industry will help to shield Australian growers from a decline in demand for oilseeds from overseas fuel markets as they transition to electric vehicles.
In some respite for aspiring homeowners, the retail price of an avocado has fallen 47 per cent below the five-year average thanks in part to a bumper crop in Western Australia.
Australia's agricultural sector is expected to have a record year with forecasts of $73 billion in gross production value, as WA farmer confidence reaches a 10-year high.
As recently as a fortnight ago, industry leaders and government officials were urging caution as the novel coronavirus swept through China, with representatives from Western Australia's tourism and education sectors confident the state was prepared to manage any possible fallout.
The investment intentions of Western Australian farmers remain the highest in the country despite sentiment dropping to multi-year lows, according to Rabobank Australia's latest rural confidence su
Significantly lower grain production is on the cards in Western Australia for the 2019-2020 season, with Rabobank Australia predicting a fall of over one third.
Farmers are upbeat in west and south of the country after a drop of winter rain, though confidence in the drought-affected eastern states continues to crumble.
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Western Australian farmers remain the most confident in the nation, but they are entering 2019 with lowered expectations following last year's bumper season, according to the latest Rabobank Rural Confidence survey.
Recent rainfall experienced across the state has lifted the outlook of Western Australian farmers, following one of the hottest and driest autumns on record.
Former Rabobank trader Paul Thompson wept as he asked a New York judge for mercy, but his emotional plea failed to save him from jail time in a US prison.
The state's widespread wet autumn has helped lift rural confidence, with most farmers expecting this year to either be a better year for the agricultural economy or as just as good as last year.
Australia's free trade agreement with China is likely to deliver significant benefits to agricultural exporters but the gains will be mainly indirect and apparent over the longer term, a report by Rabobank has concluded.
The state's rural confidence is at its highest level in over two years after a rainy autumn has found 84 per cent of farmers expecting this year to be better or as good as last year's season.
Western Australian farmers have delivered their biggest harvest in history, with the total haul today surpassing the 15.06 million tonne record set in 2011-12.
Western Australian farmers are increasingly confident about their outlook and may enjoy their best profits in a decade after the scale of the state's grain harvest was upgraded to near record levels.
Strengthening commodity prices have made Western Australian farmers the most confident in the nation, with nearly two thirds of the state's primary producers expecting the agricultural economy to improve over the next year, a survey says.
Western Australian farmers are less certain, but remain cautiously optimistic about the agricultural economy for the next 12 months, according to the Rabobank rural confidence survey taken between mid-April and mid-May.
Western Australian farmers are more confident, with 24 per cent expecting improvements in the next 12 months, according to the latest results of the Rabobank Rural Confidence Survey.
Rural confidence has stabilised in Western Australia, but remains relatively weak, according to the latest results of the Rabobank Rural Confidence survey.
