AUSTRALIAN agribusiness continues to feel the pinch caused by weak domestic and export demand, according to NAB's latest Quarterly Agribusiness Survey.
The survey showed post-farmgate conditions and confidence declined in the December quarter, as low demand led to deteriorating trading conditions and profitability.
NAB's general manager of agribusiness, Khan Horne, said agribusinesses had been hit by the high value of the Australian dollar and increased farmgate prices.
"While the broader economy is feeling optimistic, agribusinesses have a heavy reliance on exports," Mr Khan said.
Confidence in dairy increased in the quarter as a result of an increase in global and domestic dairy prices, while confidence in wheat remained strong despite a poor finish to the harvest.
