Pulling the wool: Why we’re no longer riding on the sheep’s back
Favourable weather patterns have provided record profits in some areas of agriculture but future forecasts are mixed
2 min
Australia is no longer riding on the sheep’s back with nursery cut flowers and turf worth more than wool in the agricultural market, new data has revealed. Once the greatest source of national prosperity, wool now accounts for $3.2 billion in terms of production value compared with $3.4 billion for cut flowers and turf.
Data from the Australian Bureau of Agricultural Resource Economics and Sciences (ABARES) shows that wheat and beef are Australia’s most valuable agricultural commodities, making up one third of all production by value in 2022. Wheat increased by $3.3 billion in 2022, reaching a record high of $13.1 billion while canola and cotton lint more than doubled.
Favourable farming conditions in Australia and, conversely, poorer conditions overseas have boosted the agricultural sector significantly, Ray White Group chief economist Nerida Conisbee said.
“We were producing a lot, while others were producing far less,” she said. “As we came out of the pandemic, people began spending more. The Ukraine conflict further complicated wheat markets.”
The result has lead to total agricultural production in excess of $90 billion and land values almost doubling over the past three years.
While the 2022 results have been welcomed, Ms Conisbee said the future is less certain, with international shifts having potentially positive and negative effects. While wheat production is expected to decline as weather patterns become less favourable, the ongoing war in Ukraine should keep prices up. Rice shortages as a result of a decision by the Indian Government to ban exports of non basmati rice to deal with domestic shortages is expected to have a similar impact on that market.
“This announcement is expected to result in the biggest global rice shortage in 20 years,” Ms Conisbee said. “Similarly to wheat, prices are set to rise. Although Australia is not a major rice producer, it will impact the Riverina in southern NSW where around 75 per cent of Australia’s rice is grown.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Lamborghini Esperienza Giro 2024 in Langhe, Piedmont
3 min
A three-day super sports car driving experience immersed in authentic Italian culture, the Esperienza Giro brought together Lamborghini super sports car owners from across Europe for an exclusive tour celebrating the picturesque region of Langhe in Piedmont, northern Italy. Participants enjoyed luxurious accommodations, exceptional authentic dining, and an immersive experience of the region’s culture, traditions, and landscapes, during the exclusive VIP experience all organized by Automobili Lamborghini.
Il Boscareto Resort and Spa, nestled between the hills of Serralunga d’Alba, provided a luxurious setting for the guests. Upon arrival, Lamborghini clients were treated to a two Michelin-starred dinner crafted by chef Michelangelo Mammoliti at the Rei Natura restaurant, which embraces the natural elements of the region in both its interior design and cuisine.
The tour covered a total of 488 kilometers over several days, beginning with a drive to the medieval Castello di Prunetto, where guests enjoyed a specially curated hazelnut tasting experience, a regional delicacy. The super sports cars then proceeded to Pico Maccario winery, known for its innovative winemaking techniques, picturesque vineyards, and the historic Cru Cannubi wine: a bottle of which is recognized as the oldest in Italy (dated 1752), and considered one of the most important vineyards in the world. Set in rolling vineyards punctuated with the famous Pico colored pencils, denoting the different varieties of grapes and wines, the Lamborghini owners enjoyed a private tour of the production facilities and a lunch before heading back to Il Boscareto. The day ended at the remote 11th century Castello di Grinzane Cavour, a site of significant importance in Italian history and owned over the centuries by several noble Piedmontese families where guests attended a dinner in a medieval setting entertained by flag-throwers and a falconry performance.
The following day featured an exhilarating drive through mountain scenery with a coffee stop at BAart in Agliano Terme, a village renowned for its Barbera grape winemaking and gastronomy. BAart, located in the deconsecrated Chiesa di San Michele, is a community project that blends contemporary art with traditional regional flavors. The group then visited Castello di Razzano, a historic estate dating back to the 17th century, for a private lunch featuring local products, including the estate’s own olive oil. The day ended with a private dinner at Winery Cecilia Monte, where guests savored typical Piedmontese dishes and participated in a unique workshop using wine as paint.
Heading off on day four the Lamborghini owners arrived at Santuario dei Piloni for a mid-morning stop, in a craggy, rural area famed for its history and traditions; here, participants engaged in a truffle hunting experience with dogs, culminating with a tasting of the finest truffle. The tour concluded with a drive to Pollenzo, an ancient city on the banks of the Tanaro river and the home to the University of Gastronomic Studies. Reflecting the university’s dedication to culinary excellence, guests experienced a private lunch of Piedmontese specialities next door at Scuderie Sabaude, where the king of Italy’s stables once stood. Like each edition of Esperienza Giro, Lamborghini guests in Langhe enjoyed a holistic journey incorporating the exceptional and emotional performance of Lamborghini super sports cars, while celebrating the enduring allure of local cultural experiences, exceptional cuisines and Italian heritage.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
