Agribusiness index holds up
Australia’s listed agribusiness sector is managing to hang tough in the face of the continuing deteriorating conditions, according to the September Commonwealth Bank Agri Indicators Report.
According to the index, the agri sector remained flat at 0.0 per cent during the month to September 15, while the broader S&P/ASX 200 accumulation index slipped into the red to deliver investors returns of negative 1.7 per cent.
The commentary attaching to the index said that although the sector was no longer seeing the stellar gains earned earlier in the year, over the past 12 months it had still significantly outperformed the broader market by almost 30 per cent, reaping returns of 11.7 per cent.
Commenting on the latest index, Commonwealth Bank Agribusiness executive general manager, Jon Sutton said that although the agri sector had been retreating from previous peaks, it had retained its hold as one of the top three performers on a forecast risk-adjusted basis for the coming year.
“The news for Australia’s agri sector remains relatively positive against a backdrop of despair across the broader financial markets,” he said.
AUTHOR
Mike Taylor
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