Australia's 2007-08 Commodity Export Earnings Forecast

Sept. 24 -- The Australian Bureau of Agricultural & Resource Economics in Canberra released its latest forecast for Australia's commodity export earnings. The table below compares the bureau's forecasts for production in the years ending June 30, 2007, and June 30, 2008, as well as the bureau's June forecast for the year ending June 30, 2008. All figures are in millions of Australian dollars. =============================================================================== 2006- 2007- % Previous 200 % 2007 2008 change forecast change =============================================================================== Total commodities 139,201 144,707 4.0% 149,492 -3.2% ------------------------------------------------------------------------------- Grain and oilseeds Wheat 2,766 3,640 31.6% 3,695 -1.5% Barley 833 872 4.6% 1,321 -34.0% Oats 20 63 224.5% 62 2.8% Canola 108 312 188.8% 348 -10.2% ------------------------------------------------------------------------------- Industrial crops Raw cotton 823 363 -56.0% 380 -4.6% Sugar 1,340 985 -26.5% 1,005 -2.0% ------------------------------------------------------------------------------- Meat and live animals for slaughter Beef and veal 4,634 4,573 -1.3% 4,374 4.5% Live cattle 437 487 11.3% 467 4.2% ------------------------------------------------------------------------------- Wool Total 3,069 2,690 -12.4% 2,800 -3.9% ------------------------------------------------------------------------------- Dairy products Butter 179 178 -0.1% 170 4.9% Cheese 825 1,037 25.7% 591 75.3% Casein 113 161 42.2% 46 251.7% Skim milk powder 505 688 36.3% 807 -14.7% Wholemilk powder 275 437 58.9% 346 26.4% Other dairy products 546 655 19.8% 488 34.2% ------------------------------------------------------------------------------- Energy Crude oil 8,313 8,562 3.0% 9,090 -5.8% LPG 1,038 1,148 10.7% 1,127 1.9% LNG 5,222 5,661 8.4% 5,665 -0.1% Other petroleum products 1,100 1,686 53.2% 1,409 19.7% Metallurgical coal 15,087 14,842 -1.6% 15,242 -2.6% Thermal coal 6,761 7,489 10.8% 7,992 -6.3% Uranium (U3O8) 660 802 21.7% 814 -1.4% ------------------------------------------------------------------------------- Metalliferous minerals and metals Aluminium Bauxite 153 162 5.3% 162 0.0% Alumina 6,224 5,578 -10.4% 6,306 -11.5% Aluminium 5,651 4,827 -14.6% 5,277 -8.5% Copper Ore and concentrate 3,931 3,549 -9.7% 3,906 -9.1% Refined 2,611 3,835 46.9% 3,794 1.1% Gold 10,321 10,672 3.4% 10,648 0.2% Iron and steel Iron ore and pellets 15,502 18,499 19.3% 18,695 -1.0% Iron and steel 1,743 1,786 2.5% 1,786 0.0% Lead Ores and concentrates 815 1,416 73.8% 1,133 25.0% Refined 457 767 67.9% 598 28.3% Bullion 268 612 128.1% 426 43.4% Manganese Ore 482 451 -6.4% 451 0.0% Nickel 8,377 7,229 -13.7% 9,973 -27.5% Zinc Ores and concentrates 2,578 2,247 -12.8% 2,823 -20.4% Refined 1,707 1,811 6.1% 2,115 -14.4% =============================================================================== Source: Australian Bureau of Agricultural and Resource Economics