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Date Time
Australia’s cotton production at a 37-year low
Australia’s cotton production dropped 72 per cent in 2019-20 to 115 million kilograms, the lowest level since 1982-83, according to data released today by the Australian Bureau of Statistics (ABS).
ABS Director of Agriculture Statistics, Sarah Kiely, said: “High temperatures, below average rainfall and reduced water availability meant many farmers had to change their cropping plans to adapt to the conditions during the 2019-20 financial year.
“These adverse conditions saw a 78 per cent fall in the value of cotton, down from $1 billion recorded in 2018-19 to $252 million.”
Nationally, the total value of all crops decreased 5 per cent to $28 billion with the value of wheat down 20 per cent to $5 billion.
Property market update: Melbourne, April 2021
By Zarah Mae Torrazo
14 May 2021
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1 minute read
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Melbourne stayed the course to recovery in April, despite the Australian property market boom cooling after a scorching first quarter. Can the Victorian capital hit new peaks in 2021?
Australia’s dwelling prices posted another solid increase in April, though its upward trend slowed as rising prices hurt affordability and new stocks were added to the market which helped to return the balance between supply and demand.
But the latest property market boom is far from over. After the historic growth rate of 2.8 per cent in March, national dwelling values still rose by 1.8 per cent in April, with market observers noting that the monthly uptick is considered to be a more sustainable pace of growth.
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