Australian Bureau of Statistics
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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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).
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.
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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This page last updated 28 June 2012