A nosediving Australian dollar is giving primary producers some export wriggle room with China’s tanking economy putting downward pressure on the national currency.
Weaker inflation numbers have fuelled the Australian dollar’s downward trajectory, providing mixed blessings for farmers.
Grains and cropping producers have watched lentil prices surge to more than $1000 a tonne, and canola is trending at $730 based on a lower Australian dollar in recent weeks.
Grain Producers Australia southern director Andrew Weidemann, said the dollar was a double-edged sword for farmers.
“On the selling side of it, a lower Australian dollar helps, on the buying side, it lessens our power,” he said.