Yasin Typhoon Hit, Australia’s Economy Could Loss

Yasin typhoon, which hit the eastern and northern Australia, Thursday has made several cities in the state of Queensland in ruins. Banana and sugarcane plantations and coal mining were also destroyed.It is estimated that the loss suffered by the state to reach up to hundreds of millions of Australian dollars.

According to the Sydney Morning Herald newspaper,Friday,February 4, 2011, hurricane Yasin make Australia a great loss because of some important industrial sectors were damaged.Among these was the destruction of coal mining facilities on the east coast of Queensland.This damage makes exporting coal losing up to AU $ 300 million or around Rp. 2.7 trillion

At present,workers have begun to re-repair of damaged facilities and are estimated to be effective work next week.Stephen Robert,an economist of Nomura Global Economics,estimates that due to the damage this mine,Australia’s GDP rate will be reduced to AU $ 2 million this year.

However,the sector most affected is the big banana plantations and sugar cane which is the export of Australia’s main asset.Reporting from the daily The Wall Street Journal,banana and sugarcane plantations are flat due to typhoon swept both will make the price of food is rising.It is estimated that the price increase would be the most expensive place in the last 30 years.

And Galligan,head of the Queensland Farmers Federation estimates that losses due to damage to the sugar cane reaching up to more than AU $ 500 million or around Rp. 4.5 trillion.”Flattened sugar cane plantation by the cyclone is very broad and earlier this plantation has been destroyed by heavy rains,”said Galligan.
Australia’s banana exports are the third largest after Brazil and Thailand.After the floods and cyclone,the banana production is estimated will only meet 15 percent of normal production. Bananas are also expected to rise the price up to AU $ 15.

While in the field of tourism, an estimated loss of up to AU $ 1 billion.The biggest disadvantage experienced by the city,especially in Cairns which is the entrance to the group of the world’s largest coral.

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