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7503.0 - Value of Agricultural Commodities Produced, Australia, 2009-10 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/05/2011   
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GLOSSARY

Agricultural business

A business 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.

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 all other 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.

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 the extent of agricultural activity.

Gross unit value (GUV)

See Average gross unit value.

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). 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).

Marketing costs

Represent the difference between gross and local values. Although there are difficulties in obtaining complete information on marketing costs, (which include freight, cost of containers, commission and other marketing charges) the information provides a perspective on the marketing costs of major commodities. Significant differences in the marketing costs for individual commodities may occur as a result of different marketing arrangements.

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 value placed on recorded production at wholesale prices realised in the market place. Generally referred to as gross value of production.


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