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2012 Autumn - Managing uncertainty in the world’s riskiest business

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FPJ0901 - Kingwell, R, Revenue volatility faced by some of the world's major wheat producers

Kingwell, R, Revenue volatility faced by some of the world's major wheat producers, Farm Policy Journal Vol9 No4 pp 23-33, Australian Farm Institute, Sydney

Farmers’ revenues from wheat production are altered by changes in wheat yields, wheat prices and areas sown to wheat. This paper uses decomposition modelling to explore how wheat revenue volatility and its components have changed over recent decades in Australia and some other major wheat-growing nations. Australia consistently has experienced greater wheat revenue variance than the other nations, but especially more so over the last decade. Apart from China and India, all nations have experienced increased revenue variance over the last decade, principally due to greater price volatility attributable to price spikes. Australian farmers have additionally experienced enhanced yield variance over the last decade, mostly attributable to the incidence of drought. How farmers and government in Australia respond to this greater volatility of wheat revenue will affect the viability of wheat farm businesses.




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Farm Policy Journal - Vol 8 No 3 2011 Spring - Full Journal - A private future for food and fibre quality

Farm Policy Journal, Vol. 8, Number 3, Spring 2011, A private future for food and fibre quality, Australian Farm Institute, 76 pp

ISSN: 1449-2210 (print), 1449-8812 (online) 

Historically, public authorities specified safety and quality standards for agricultural products, and provided reassurance to consumers that products were safe. Increasing consumer demands and the rise of food and fibre brands, and retailer brands have led to the development of private quality and safety standards. These private standards are a form of risk management for food and fibre brands, and retailers; but also create barriers to entry and exit for farmers supplying these brands and retailers. The Spring 2011 Farm Policy Journal sheds light on the pros and cons for the farming sector of these new trends – analysing impacts on domestic and international trade and economics. The Journal also provides useful tools for upgrading your knowledge of this topic, including a lexicon, and case studies from China and South-East Asia.


FPJ0804 - Keogh, M - Food security, food reality and australian agriculture opportunity

Keogh, M, Food security, food reality and Australian agriculture opportunity, Farm Policy Journal, Vol8 N4, Summer 2011, pp 1-6

As recently as five years ago, food security was a term used in discussions about the food supply situation in drought stricken and impoverished developing nations, often as not run by a despotic dictator. More recently, however, food security has emerged as a major policy issue in developed nations such as Australia. Unfortunately, much of the discussion about the issue is misinformed, and some of the proposed ‘solutions’ are likely to make global food security worse, rather than better. While global food insecurity represents a significant opportunity for Australian agriculture, it will require considerable effort by industry participants to secure that opportunity. Those efforts will be more likely to succeed if Australian governments undertake policy reforms in a range of areas including agricultural innovation, agricultural trade, regulation efficiency and market transparency.


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