Welcome
Over the past few weeks, I've been on the road visiting customers in a number of regional areas from Albany in WA to Rockhampton in QLD, as well as speaking at the Australian Bureau of Agricultural and Resource Economics (ABARES) in Canberra.
What's clear is that, broadly, the year is shaping up well for Australian agriculture. While commodity prices and varying seasonal conditions are providing a mixed bag with sentiment, it's extremely positive that we're seeing full soil moisture profiles, overflowing dams and abundant pastures across most of the country.
It also appears the subdued demand for credit, and the focus on balance sheet and equity restoration that has dominated 2010 and 2011 is beginning to change.
We predict confidence will increase over the balance of 2012 on the back of improved seasonal conditions, water allocation and the past two years of strong deposit growth.
For a more in-depth look at how your agribusiness sector is performing, read our latest Rural Commodities Wrap.
I hope you find this issue of Agribusiness View helpful and welcome your thoughts at agribusiness.view@nab.com.au.
To receive Agribusiness View direct to your inbox each quarter for free, subscribe now.
Regards
Khan Horne
General Manager
NAB Agribusiness
