Industry Analysis & Industry Trends
The Rice Growing industry in Australia is largely confined to the Riverina region (located in southern New South Wales) and northern Victoria. As a water-intensive crop, rice production tends to fluctuate in response to seasonal conditions. In 2006-07, the industry was ravaged by drought, evidenced by the plunge in revenue over 2007-08. Moreover, production levels decreased dramatically and are yet to return to levels experienced prior to the beginning of the millennium. However, as seasonal conditions improved and rice growers returned to their paddocks, industry revenue rebounded significantly. Over the past five years to 2011-12, industry revenue rose at an annualised 30.3%, reaching $248.3 million. Revenue increased 37.3% in 2011-12 alone... purchase to read more
Industry Report - Industry Analysis Chapter
The Rice Growing industry has been going through a serious rough patch over the past five years. As the effects of the drought hammered away at the industry's production levels by raising the cost of access to water, the industry shrunk significantly, reaching a revenue low of $8.4 million in 2007-08. Profit levels have endured even more dramatic swings. Due to low production levels, the rice growing company Ricegrowers Limited was forced to import large amounts of rice even when global food prices were high, and has subsequently taken on large amounts of debt. On a local level, farms in the Riverina region - the heart of rice growing in Australia - accumulated significant levels of debt, with average levels of farm debt in the region superseding $600,000 in 2010... purchase to read more