Farming is a risky business. Seasonal conditions are always variable – ranging from drought back to normal and then onto above average rainfall, as well as floods and cyclones. Added to this, commodity prices are volatile.
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| The current crippling drought hitting eastern Australia is reducing agricultural output. |
The current crippling drought hitting eastern Australia is reducing agricultural output and incomes, as well as causing distress to many rural families across the country. And it could get worse – with climate change likely to increase both the frequency and severity of future droughts.
Most people voluntarily commit to farming if the anticipated returns in the good times balance the low or negative returns during adverse conditions. The majority of farmers and their families prepare for and adjust to the ups and downs of farming – and this includes drought.
But can the same be said for government?
Reed the Pursuit story by Professor John Freebairn from the University of Melbourne
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