‘Prices will go up’: Warnings grow of drought’s economic toll
National Farmers’ Federation President David Jochinke warns that the prolonged drought impacting parts of Australia could lead to price increases on products.
“It’s going to make the supply of goods tougher, not only for this short-term period … it means that they’re quitter their breeders, it means that they neat year’s production of livestock will be more challenging for them to get back where they were,” Mr Jochinke told Sky News host Steve Price.
“It means that the price of milk … will have to reflect that cost of production, otherwise we lose that capacity in Victoria.
“That means that prices will go up.”
