AAG Agri-business Index posts consecutive gains
The AAG Agri-Index has risen for a second consecutive fortnight, adding 1 per cent to its value over the period from the May 29 to June 11.
The diversified, producer and manufacturer sub-sectors gained 4 per cent, 2 per cent and 1 per cent respectively for the period.
An Australian Agribusiness Group media statement on the index said the sector is “continuing to see somewhat of a recovery in recent months”.
However, the AAG Agri-Index dropped 52 per cent over the 12-month period from July 1 last year to June 11 this year, compared to a “less volatile” 23 per cent for the All Ords index.
The manufacturer sub-sector has remained the hardest hit for the year, falling 56 per cent, while the producer sub-sector has fallen 37 per cent.
The diversified sub-sector is the only sector to continue to produce a positive result, having increased 12 per cent since the July 1 last year.
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