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
The G80 Sport makes its entrance, displaying dynamic design details and elevated automative capabilities.
2 min
Juma Al Majid LLC, the exclusive dealer for Genesis in the UAE, has launched the G80 – a cutting-edge luxury sedan. Merging tradition with innovation, this model embodies Genesis‘ relentless pursuit of superior design, state-of-the-art technology, and unmatched luxury.
The new G80 marks a significant milestone in introducing Korean automotive excellence to the UAE, highlighting the brand’s commitment to providing exceptional experiences.
Meticulously crafted, the redesigned G80 adheres to the ‘Athletic Elegance’ design philosophy synonymous with Genesis. This luxury vehicle features refined details and cutting-edge specifications, combining comfort and style to elevate every driving experience to new heights.
“The debut of the all-new G80 in the UAE market propels our vision to converge advanced technology and refined elegance”, stated Suliman Al Zaben, Director of Genesis, UAE. “This launch is a step forward for Genesis in the UAE market and strengthens our efforts to offer ultimate luxury, innovation, and unique design to our incisive customer base.”
With a new dual-mesh design, the G80’s exterior enhances the sophisticated appearance of the Two-Line Crest Grille, paired with iconic Two-Line headlamps featuring Micro Lens Array (MLA) technology. This highlights Genesis’ commitment to harmonizing advanced technology with elegant design. The five 20-inch double-spoke wheels exude a dynamic aesthetic, resembling sleek aircraft lines, complementing the car’s parabolic side profile. Rear diffusers conceal mufflers adorned with distinctive V-shaped chrome trim inspired by the Crest Grille, embodying an eco-conscious ethos in today’s technology-driven era.
The G80 reinforces Genesis’ design philosophy in its interiors, inspired by the uniquely Korean concept of the Beauty of White Space, integrated with state-of-the-art technology to create cosmetic brilliance for users. The 27-inch-wide OLED display seamlessly combines the cluster and AVN (Audio, Video, Navigation) screen in a horizontal layout, extending to the center fascia, showcasing its flair for innovative technology. The touch-based HVAC (Heating, Ventilation, and Air Conditioning) system offers ease of control, while the redesigned crystal-like Shift By Wire (SBW) ensures a comfortable grip, infusing a sense of luxurious convenience.
With its dual-layered Crest Grille and expanded air intakes, the G80 Sport package delivers a dynamic and sporty spirit. Exclusive interior options, such as a D-cut steering wheel and carbon accents, enhance its sporty allure. Equipped with Rear Wheel Steering (RWS) and Electronic Limited Slip Differential (E-LSD), the G80 Sport 3.5 twin turbo model is built for stable control during high-speed maneuvers.
Fitted with advanced safety and convenience features, this luxury sedan includes Remote Smart Parking Assist 2, Lane Following Assist 2, and a Fingerprint Authentication System. The three-zone HVAC system provides customized climate control for all passengers. With two powertrain options – a 2.5 turbo engine delivering 300 horsepower and 43.0 kgf·m of torque, and a 3.5 twin turbo engine producing 375 horsepower and 54.0 kgf·m of torque – superior driving dynamics ensure a silent and luxurious driving experience.
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
