GLOSSARY
Agricultural establishment
An establishment which is engaged mainly in agricultural activities.
Average gross unit value
Calculated by dividing the gross value of each commodity produced by the total production of each corresponding commodity. It includes any relevant subsidy and bounty payments based on production.
Chain volume measure
An annually re-weighted chain Laspeyres index referenced to the current price values in a chosen reference year. Chain Laspeyres volume measures are compiled by linking together (compounding) movements in volumes, calculated using the average prices of the previous financial year, and applying the compounded movements to the current price estimates of the reference year.
Estimated value of agricultural operations (EVAO)
An estimation of agricultural activity undertaken by an agricultural establishment. Three-year average weighted prices are applied to livestock sales and livestock numbers on the farm, and to area and production data for crops. The resultant aggregation of these commodity values is the EVAO. It is not an indicator of the value of receipts of individual farms but rather an indicator of the extent of agricultural activity.
Gross unit value (GUV)
See Average gross unit value.
Gross value of commodities produced
The value placed on commodities at the point of sale (i.e. marketplace).
Livestock slaughterings and other disposals
Values are published as one figure but include two distinct components:
- value of livestock slaughtered
- value of net exports, i.e. the total value of livestock intended for slaughter in adjacent states and territories where available ( at present these can only be identified between the Northern Territory and adjacent states) and livestock exported overseas whether for slaughter or breeding, minus the value of imports of livestock.
Data on the value of livestock slaughterings by state and territory are available on request.
Local value of commodities produced
The value placed on commodities at the point of production (i.e. farm gate). It is calculated by deducting marketing costs from the gross value of commodities produced. Gross and local value of agricultural commodities produced involve some duplication as they include certain agricultural commodities which are consumed as raw materials to produce other agricultural commodities (e.g. hay consumed by livestock).
Marketplace
Generally the metropolitan market in each state and territory. In cases where commodities are consumed locally, or where they become raw material for a secondary industry, these points are presumed to be the marketplaces.
Value of agricultural commodities produced (VACP)
The value placed on recorded production at wholesale prices realised in the marketplace. Generally referred to as gross value of production.
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