Rabobank Agribusiness Review November 2008
Please find attached a link to Rabobank’s November 2008 Australia and New Zealand Agribusiness Review.
Prepared by the bank’s Food & Agribusiness Research and Advisory division, the report provides monthly commentary on New Zealand and Australian economic and agricultural conditions. Highlighted in this report:
• Neutral SOI conditions are predicted to continue into early next year and there is now very little potential for El Niño or La Niña conditions to develop during this time.
• The chaos continued in the global financial markets during October, with confidence in the global economy increasingly unstable. IMF slashed its global growth forecasts for 2009 to just 2.2%.
• Flow-on from the global financial chaos has impacted price and demand expectations for most commodities over the past month. Prices for grains, dairy, beef, lamb, wool and cotton have all declined, reflecting the magnitude of the collapse in confidence.
• Weaker local currencies has helped offset the falls in most export commodity prices but continue to have the reverse effect on farm input prices.
To view the full report, please click on the link below: