However, financial experts have said the currency benefit may be outweighed by the impact of the global economic slowdown.

The Aussie dollar has fallen almost 40 per cent over the past three months, reaching US61.94 yesterday.

Riverina Citrus exports 25 to 30 per cent of their produce each year, and chairman Frank Battistel said the low Australian dollar was “terrific news.”

“The fall in the Aussie dollar has made us more competitive both internationally and domestically,” Mr Battistel said.

“For some time we have been battling the Asian markets because, before the dollar drop, Australian produce was seen as too expensive and this could turn that around.”

“It is too early to tell what this will do to our market share, but we have certainly heard from our packing sheds that more and more requests are coming through.”

SunRice chairman Gerry Lawson said the low Australian dollar was welcome news for local exporters battling the drought.

“It will mean great things for exporters, but it would be even better if the drought were to subside,” Mr Lawson said.

“Exporters, not only of rice, will receive a greater return on their produce with the dollar so low, but unfortunately, they won’t be able to take full advantage of it because the drought has significantly depleted crops.”

Mr Lawson said the fluctuations in the dollar and the drought had exporters nervous about locking in prices.

“It is our policy not to hedge

too far out in front, unless we

have a substantial crop behind us,” he said.

“We are exporting at the moment and are certainly seeing the benefits, but most of what we are sending overseas was hedged.”

A normal year would see SunRice exporting around 85 per cent of their produce, at present they are managing less than 50 per cent, Mr Lawson said.

“Demand has certainly grown, but the drought has meant that on many occasions we have had to make up crop shortages by buying rice from other places around the world.”

Anderson’s Finance Brokers principal Ross Anderson said the falling dollar was “probably not as good as people think.”

“The fall in the Australian dollar has resulted from an artificial rise in the US dollar,” Mr Anderson said.

Local financial advisor David Marchese said the benefits of the low Australian dollar would be eroded by the slowing economy.

“The low Australian dollar may be good for exporters now but as the world economy slows down, growth will slow down and so to will demand.”