THE cut flower industry is showing signs of wilting this year with a forecast estimated fall in revenue of more than 4 per cent.
Industry-based researcher IBISWorld suggests, after a difficult five years for cut flower growers, this year is expected to be another tough year.
IBISWorld general manager Australia Karen Dobie said, after a decade of decreasing sales and revenue, the company forecast industry revenue would fall 4.3 per cent for 2012.
"Worth $456.4 million in 2002, Australia's cut flower growing industry is expected to earn just $297.2 million this year - almost half its value 10 years ago.
"The industry has experienced a restructuring of its customer base, with an increasing percentage of production being sold through supermarkets and convenience stores rather than florists," Ms Dobie said.
"Cut flowers are also a highly discretionary item and conservative spending is expected to keep demand weak through 2012," she said.
Peak industry body Flowers Victoria was unavailable for comment when contacted by The Weekly Times.
