GLOSSARY

Agricultural business

A business which is engaged in agricultural activities.

Broadacre crops

Crops that are typically grown on a broad scale. They include cereals for grain, cotton, hay, legumes for grain, oilseeds, sugar cane for crushing and other broadacre crops.

Dead wool

Wool gathered or plucked from sheep that have been dead for some time.

Disposal

Refers to the stage in livestock production, usually in the pork and poultry industries, where animals are grown on a contract basis for others and then disposed of (not sold) when finished.

Gross value of agricultural commodities produced

The value placed on recorded production at the wholesale prices realised in the market place.

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.

Local value of agricultural commodities produced

The value placed on commodities at the point of production (i.e. farm gate). Local value of production is equal to gross value of production less marketing costs. Gross and local value of agricultural commodities may be the same if they are consumed as raw materials to produce other agricultural commodities (e.g. hay consumed by livestock), since no marketing costs are involved.

Marketing costs

Marketing costs include freight, insurance, levies, cost of containers, commission and other marketing charges. Significant differences in the marketing costs for individual commodities may occur as a result of different marketing arrangements. Not all items will have marketing costs associated with them, in which case gross value of production will equal local value of production.

Market place

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 market places.

Value of agricultural commodities produced (VACP)

The term for the value of agricultural production, normally in a given year. It may be presented in a number of ways, including the gross value of agricultural commodities produced contained in Table 2 of this publication, as well as the local value of agricultural commodities produced, and the marketing costs differentiating the two, as contained in Table 1 of this publication.