国际英语新闻：Australian farmer confidence at three-year high: survey

SYDNEY, March 28 (Xinhua) -- The confidence of Australian farmers is at a three-year high as promising summer rainfall and favorable commodity prices continue to fuel optimism, according to the latest quarterly Rabobank Rural Confidence Survey released on Monday.

Sentiment among farmers rose for the fifth consecutive quarter, despite widespread flooding in several regions earlier this year, the survey found.

The survey, taken in February, showed 48 percent of farmers had expected conditions to improve in the coming year, up from 42 percent in the previous quarter.

Only 14 percent of producers expected the agricultural economy to worsen.

Rabobank Rural Australia general manager Peter Knoblanche said on Monday current conditions were optimal for the vast majority of producers.

"Summer rainfall has positioned most producers very well as we head into the winter season," Knoblanche said in a statement.

"Sentiment is very much being driven by an expectation of continuing high commodity prices and, more so, an ability to capitalize on them."

Up to 33 percent of primary producers were intending to invest further in their farm business over the next 12 months on the back of strong sentiment, he said.

"On the other side of the coin, the high dollar also helps to mitigate the landed cost of farm inputs such as chemicals, fertilizer and fuel," Knoblanche said.

Confidence increased the most in the states of Western Australia, South Australia and Tasmania, which were benefiting from higher lamb, sheep and grain prices, the survey found.

Sentiment was weakest in Queensland, where the impacts of Cyclone Yasi and flooding had left prime sugar and banana growing regions damaged or destroyed.

Rabobank surveys 1200 farmers across a range of commodities and geographic areas on a quarterly basis. The survey is known as a comprehensive monitor of outlook and sentiment in Australia's rural industries.

Rabobank Australia is a part of the international Rabobank Group, the world's leading specialist in food and agribusiness banking.