AUSTRALIAN farmers are becoming increasingly pessimistic in the face of a high Australian dollar and weaker commodity prices, a survey shows.
Food and agribusiness bank Rabobank Australia on Monday released its quarterly Rural Confidence Survey which showed farmers were becoming increasingly pessimistic about the economic outlook.
The survey of 1,200 primary producers found 28 per cent expect the agricultural economy to worsen in the next 12 months, compared to 20 per cent previously.
Only 16 per cent of producers expected conditions to improve, while 52 per cent expected them to remain stable.
Rabobank said those expecting conditions to worsen nominated falling commodity prices and the high value of the Australian dollar as their primary concerns.
"Not surprisingly, farmers are becoming more concerned with the strong Australian dollar," Rabobank general manager Rural Australia Peter Knoblanche said in a statement.
The survey of 1,200 primary producers found 28 per cent expect the agricultural economy to worsen in the next 12 months, compared to 20 per cent previously.
Only 16 per cent of producers expected conditions to improve, while 52 per cent expected them to remain stable.
Rabobank said those expecting conditions to worsen nominated falling commodity prices and the high value of the Australian dollar as their primary concerns.
"Not surprisingly, farmers are becoming more concerned with the strong Australian dollar," Rabobank general manager Rural Australia Peter Knoblanche said in a statement.
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