Drought

Farm income returns dropped to their lowest level in four years as dry conditions persist in eastern and northern Australia, but annualized returns remain steady year-on-year.

Consultant Aither found the average monthly water allocation price was A$550/ML, with entitlement values also ‘well above’ previous records.

New Zealand dairy giant flags writedowns of more than NZ$800m ahead of its full-year results in September when it will report its second ever annual loss.

Sunrice chairman Laurie Arthur warns of casualties among irrigation enterprises and industries if horticultural development keeps going at the current rate.

The first wheat imports to Australia in years raise concerns about the sector – but there is still interest in cropping properties.

ABARES, the country’s agriculture bureau, revised down its prediction from September 2018 to reflect ‘unfavorable’ conditions in most cropping areas.

The Australian government’s interventions in the sector to subsidize farmers struggling with drought may ultimately do more harm than good.