Phin Ziebell

Phin Ziebell

Senior Analyst, Economics

“Responsible for analysing and reporting on the trends and developments in the agribusiness industry, working in conjunction with bankers in NAB’s Agribusiness division.”

Phin is NAB's Agribusiness Economist. He is responsible for analysing and reporting on the trends and developments in the agribusiness industry and works closely in conjunction with bankers in NAB’s Agribusiness division.

Phin graduated with bachelor degrees in Commerce and Arts from the University of Melbourne and joined NAB in mid-2014. He was previously an economist at the Victorian Department of Primary Industries and Victorian Treasury.


The NAB Rural Commodities Index is an index of 28 agricultural commodities weighted by the relative size of each commodity in the Australian agricultural sector.

Prices have seen a gradual recovery from the mid-2014 to early 2016 price slide.

Summer has brought extremely volatile conditions to Australia’s cropping districts. While much of eastern Australia has baked in an extraordinary heatwave, Western Australia has suffered substantial flooding.

For the 2016-17 season, we developed a new wheat production forecast model, based on regional rainfall and state yields going back to federation, with an allowance for technological change.

While prices are likely to stay subdued for some time, increased volume will see the value of exports increase significantly.

2016 was a very tough year for many Australian dairy producers, with farmers beginning the year amid extremely dry conditions in key dairy regions and steep cuts to farmgate prices

The Australian cattle industry has enjoyed a stellar two year run of rising prices, and more recently, very good rains across many cattle producing regions.

Our outlook for agricultural production is highly reliant on the climate outlook

Global dairy markets have faced very difficult conditions since plummeting in the first half of 2014

The progress of the season, which has been generally much wetter than average in eastern Australia but dryer in the west, continues to be the major consideration for Australian agriculture.

Spring has brought not only considerable rain to parts of the country but also a further uptick in the NAB Rural Commodities Index.

The Australian lamb industry has enjoyed broadly favourable conditions of late, and we remain upbeat in our assessment of the industry.

NAB’s Rural Commodities Index includes 28 commodities. The index is weighted annually according to the gross value of production of each industry in Australia.

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