Brisbane Market turnover for the 2007/08 financial year, as assessed by the independent consulting firm, Market Information Services, has achieved a new record figure of $1.074 billion, up by 6.3pc on last year's record figure.

This followed a strong start to the financial year with firm prices across most lines of produce.

However, increasing supply volumes and tightening economic conditions in the second half of the financial year saw an easing in demand and declining prices.

The throughput volume reported by Market Information Services of 576,568 tonnes was up by 3.9pc on that of the previous year.

While this shows strong growth, throughput tonnages remain under previous record figures achieved prior to the impacts of citrus canker, Cyclone Larry and the recent droughts.

The report stresses that ongoing strong performance of Australia’s Central Markets remains a vital part of the industry in providing a clearing house for production volumes and a mechanism for matching supply and demand.

"The Central Markets are an effective and efficient marketing and distribution hub for buyers including independent retailers, retail chains, food service businesses, providores, exporters and processors," it says.

Wholesalers within the Brisbane Produce Market receive product from some 7,000 growers throughout the course of the year for resale to approximately 1,000 buyers.

The economic slow-down and rising costs, however, will having an ongoing impact on the fruit and vegetable industry, with both the growing and wholesaling sectors fighting to contain costs.

Both State and Federal governments need to ensure they can do all they can to remove unnecessary red tape that adds costs to small business in all sectors of the industry.