We therefore have to adapt and adjust very quickly to overcome this major reduction in sugar prices. In line with expectations, sugar earnings is now forecast to decline by 29 percent this year, compared to a growth of around 34 percent in 2008.
If we look at the broader picture over the past 20 years, Australia is still in the very small group of advanced countries to have increased its share of world output. Using the 4 IMF’s annual database , it is possible to discern some interesting longer-term trends from developments over the past 20 years.