A global population explosion is forecast to create a worldwide food shortage in the next 10 years. We hope that Australia will take more important role to supply foods to Asian countries from now on.
According to the Australian Financial Review recently, strong predictions from Australia's chief commodity forecaster are already being reflected in farmland sales across Australia – particularly for grazing property, where profits from livestock are projected to increase over the next few years.
The Australian Bureau of Agricultural and Resource Economics and Sciences released its major commodity and farm performance forecasts last week, predicting strong income gains for livestock but lesser gains for cropping.
"There is probably an opportunity for an uplift in value to occur in 2016, 2017, driven by a good recipe which includes a low Australian dollar, record low interest rates, improving cattle prices and also lower operational costs from lower fuel prices," Mr Symons said.
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