AUSTRALIA’S grains sector is finally recovering from the impact of the drought, according to figures released by the Australian Bureau of Statistics (ABS) last week.
The ABS data found the value of the Australian crop over the 2010-11 reporting period rose 18pc to $25 billion.
As part of this rise, wheat production was at a record 27 million tonnes, up 26pc, and canola was also up 24pc to 2.4 million tonnes.
The 18pc rise, which equates to $3.6 billion was made up partly of higher prices for most commodities and increased production for some others, according to the ABS.
The tonnages are likely to be dwarfed by the monster 2011-12 crop, although with prices falling, it is uncertain what the change in value will be.
In terms of wheat in particular, the ABS found that in 2010-11 there was a $2.3 billion (or 48%) increase in the value of wheat for grain, driven by an increase in prices and volume, while barley values increased 27% to $1.7 billion and canola values increased by 53% to $1.3 billion.
Reflecting the good season in terms of grass and the drop in demand, the value of the hay crop declined by 34pc.
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