Industry group, NSW Farmers, have set off alarm bells stating almost two thirds of food producers say they are going backwards financially.
According to a NSW Farmers report, a farmers business sentiment survey revealed 64 per cent of farmers reported business conditions had deteriorated over the past 12 months, while only 12 per cent stated they had improved.
“The main economic causes of these negative sentiments were commodity prices and interest rates,” NSW Farmers economist, Brendan O’Keeffe said. “According to ABARES, wheat and canola export prices as of June 21 had decreased by 30 per cent and 37 per cent respectively over the past 12 months.”…