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Tuesday, December 06, 2005

Higher petrol price fuels lower farm confidence.

Higher petrol price fuels lower farm confidence. 07/12/2005. ABC News Online

Soaring fuel prices in Tasmania are having an adverse effect on rural confidence.

The November quarter survey by the agribusiness bank Rabobank has found that 25 per cent of farmers expect the agricultural economy to improve over the next 12 months compared to 30 per cent the previous quarter.

And 90 per cent of farmers expect their operating costs to increase.

The bank's senior manager for Tasmania, David Young, says fuel prices are a big part of the result.

"Because obviously that's going to infiltrate into the requirements that they need to run their farms, that'll probably see prices increase in various areas and I think that's already happening to some of our clients," he said.

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