Figure 1: Australian Harvest & Haulage Cost Index September 2024, Nominal

Sources: ABS, AIP, Margules Groome
Margules Groome’s quarterly harvest and haulage cost index for Australian plantation operations is based on price indexation mechanisms used by the industry, weighted by volume harvested (Figure 1). The index continued its flat to slightly downward trajectory from the March quarter into the September quarter 2024. The slight downward trend from the recent September 2023 peak also effectively continued. Again, lower fuel prices were the key driver, outweighing increases in wages and CPI measures which are moderating from the highs over the last two years.
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