Confidence continues to ‘cautiously’ build in South Australia’s farm sector, but the outlook for the year remains heavily dependent on spring rainfall.
After parts of the state began this year’s winter cropping season with the driest conditions in a century, rain received over the past quarter has eased concerns for many.
According to a recent survey conducted by a bank Rabobank Rural Confidence last month, 7% of surveyed South Australian farmers were optimistic about the outlook for the agricultural economy in the coming year, up from 29 % with that view in the previous quarter.
The percentage of farmers expecting conditions to remain stable fell slightly from 43% to 37%, while the number expecting a deteriorating rural economy remained stable at 21%.
Rabobank regional manager for South Australia Roger Matthews said rain received in the state in June and early July had eased the uncertainty that many growers had been feeling after such a late break to a very long hot and dry summer.