ABAREAustralian Bureau of Agricultural and Resource Economics
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This series has been constructed by splicing a series of MFP estimates (ABARE 2006) for the period 1988-2004 to the series used by Mullen and Cox (1996) based on ABARE survey data for the period 1953-1994.
As such, says ABARE, "it would not be surprising if in future, China became a larger importer of feed grains.
ABARE expects Australian beef exports will rise by about 5 percent to 348,000 tons, but it predicts prices will fall by about 4 percent to US$3.
Rubbish in, rubbish out: there were enough eminent scientists around, including Professor Ian Lowe, suggesting that that was exactly what the ABARE computer was being fed.
Rather than setting a goal for all nations to lower their greenhouse emissions by equal proportions, ABARE advocated "differentiated" goals tailored to the economic characteristics of each country.
While world demand, and Australian production of coal, is expected to increase substantially over the next five years, prices for thermal and metallurgical coal are forecast by ABARE to decline by 7% and 13% respectively, in real terms, over the period.
ABARE has estimated that winter grain production is down by 61% -- from a record 39.
Critics had earlier argued that the government jumped too soon in acquiring water entitlements without first studying its value for money, yet the water minister said that the ABARE study clearly pointed to the drought as the main reason of lost production in the Murray-Darling Basin.
ABARE executive director Dr Brian Fisher said if the current subsidies and tariffs in the coal sector were removed, prices of China's domestic coal would rise and imports to the southern coast would become more competitive.
However, more than half the commodities surveyed by ABARE in the quarter recorded falls in production.
5 million tonnes of wheat to send as food aid to countries including Indonesia, a move which ABARE said could displace commercial sales of Australian wheat.
A large proportion of that is to do with the dollar, because the situation on world markets hasn't got any better, in fact it's probably deteriorated slightly," ABARE executive director Mr Brian Fisher told Reuters.