ASX agribusinesses that have been impacted by the three-year long drought won’t find much relief anytime soon. Australia is facing its smallest winter crop in more than a decade and conditions in the industry are only going to get tougher, according to Rabobank.
The agriculture finance company believes our winter crop will only hit 27.7 million tonnes as farmers start harvesting in some parts of the country, according to a report in the Australian Financial Review.
Rabobank’s estimates is six million tonnes below the federal government’s forecast, which was released last month.
