The Australia Institute Report – Beating Around the Bush

Posted on 22. Nov, 2012 by in Food related reports

Attached  is a new report, “Beating Around the Bush” from The Australia Institute which quantifies the impact to Agriculture from the high AUD that has arisen from the mining “boom”.

Summary

Since the beginning of the mining boom Australia’s rural sector has lost $43.5 billion in export income. This includes $14.9 billion in 2010-11 alone. These losses have occurred because the mining boom has forced the Australian dollar to historic highs.

The damage the mining boom is doing to other sectors has created what has been dubbed the ‘two speed economy’. The booming mining industry has pushed up the Australian exchange rate and in doing so has cut the export earnings of trade-exposed parts of the economy.

Read more…  “Beating Around the Bush”

 

 

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Australian field of wheat by: Adrian van Leen

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