Commodity exports from Australia, the largest shipper of coal, iron ore and wool, may gain 14 percent to a record next financial year, driven by rising prices, according to the federal government’s forecaster.
Wheat production in Australia, the fourth-largest shipper, may total 26.2 million metric tons in 2011-2012, 7.8 percent more than forecast and in line with last year’s harvest as favorable weather aids the crop.
Wheat exports from Australia, the second-biggest supplier last year, will probably decline 5 percent in the year starting July 1 even as the crop increases because of higher plantings, a government forecaster said.
Agriculture export earnings by Australia, the largest wool and beef shipper, may decline next financial year on concern that global economic growth will slow, according to the government’s commodity forecaster.
Wheat exports from Australia, the fourth-largest shipper, may surge to the highest level in more than a decade after rains boosted this year’s harvest, according to revised predictions from the government’s forecaster.