Aussie farm trade shocked

Aussie farm trade shocked

SYDNEY (Reuters): Australia's A$20 billion a year farm export
sector is braced for a worsening impact from the Asian crisis.

Ian Donges, newly-elected president of Australia's peak farm
body the National Farmers' Federation (NFF), said he was
concerned especially about Indonesia, Australia's second-largest
market for wheat, one of its largest markets for cotton and a
very large buyer of other farm exports.

"I think there's worse to come in the next six to 12 months,"
Donges told Reuters Television.

Asked whether Indonesia was actually paying Australia for
wheat exports, he pointed out that Indonesian payments had "so
far" been covered by the Australian government's Export Finance
and Insurance Corp (EFIC) insurance.

Indonesia takes about four percent of Australia's total
exports, of which 60 percent are destined for the Asian region.