Forecaster tips commodity price boom By finance reporter Rebecca Hyam and staff
Posted 31 minutes ago
The Federal Government's agricultural and resources forecaster is tipping Australia's export earnings from key commodities to rise in the next year, after an estimated fall this year.
The Australian Bureau of Agricultural and Resource Economics (ABARE) says commodity exports are expected to reach just over $202 billion in the coming financial year.
That is up more than 23 per cent from an estimated $164 billion in the current financial year.
Minerals and energy exports are expected to rise 28.5 per cent to $169.8 billion in 2010-11.
The biggest increase is expected to come from rising coal and iron ore prices and volumes.
"The forecast increase in earnings from energy and minerals exports in 2010-11 mainly reflects the significant increases in recently negotiated contract prices for coal and iron ore and the forecast higher export shipments," said Paul Morris, ABARE's Deputy Executive Director.
ABARE says the value of farm exports is forecast to rise by a much more modest 2.5 per cent to more than $29 billion in the next financial year.
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