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Edition: U.S. Article Save Email Print Reprints Most Popular Most Shared New U.S. air traveler screening focuses on 14 nations 1:49am EST U.S., British embassies in Yemen extend closure | Video 2:02am EST Chinese firms evade U.S. Iran sanctions: report 12:27am EST Newark airport terminal locked down over security: report 03 Jan 2010 U.S. considering lesser term for UBS whistleblower: report 03 Jan 2010 U.S. growth prospects deemed bleak in new decade 03 Jan 2010 North China struggles with icy cold snap | Video 03 Jan 2010 Hundreds of cars torched in France at New Year 01 Jan 2010 Kraft to raise Cadbury bid in next 2 weeks -report 03 Jan 2010 New U.S. air traveler screening focuses on 14 nations 1:49am EST Australia floods peak, but farmers see export boon Rob Taylor CANBERRA Sun Jan 3, 2010 11:12pm EST Related News Hundreds evacuated as floods hit eastern Australia Sun, Jan 3 2010 Rain, floods in N. Philippines kill over 100 Fri, Oct 9 2009 CANBERRA (Reuters) - Australian authorities declared a natural disaster over flood-stricken areas on Monday, but rains submerging large swathes of New South Wales state could be a boon for crop exports after a crippling drought, farmers said. World Days of heavy rains in outback New South Wales state over New Year have swollen rivers and left hundreds of rural properties cut off by floodwaters, with more than 1,200 people evacuated. But farmers said the big wet would mean they were able to plant summer and winter crops in the months ahead, refilling reservoirs and easing a long-running dry that has wiped billions of dollars from agricultural exports. "If you look at the total...agricultural export income earnings of around A$30 billion ($27 billion), and you think that quite easily this rain could increase that by 10 percent and could in fact increase it by quite a lot more than that, 10 percent would be A$3.2 billion," New South Wales Farmers' Association President Charles Armstrong told state radio. The damage bill from the flooding is expected to run into millions of dollars in Australia's most powerful state, home to a third of the 21 million population and a A$320 billion economy accounting for a third of national GDP. State Premier Kristina Keneally toured flood-affected areas of the state's west on Monday and made the natural disaster declaration. "It will give primary producers, it will give local business and other organizations the opportunity to access longer term funding and support for repair and rebuilding," she said. An evacuation center has been set up in Coonamble, about 500 kilometers (300 miles) northwest of Sydney, where the Castlereagh River peaked at 5.14 meters (16.8 feet), just below the level of flood levees protecting the town. A rain depression, which started as a powerful cyclone off the west Australia coast and traveled across the outback over Christmas, has flooded dry rivers and turned dust bowl paddocks to mud in the New South Wales state wheat belt. Farmers say it is the best rain in 10 years in some areas, although not enough to fully replenish irrigation dams. "There will be an opportunity to perhaps have more irrigated crops and a greater food supply as a result of that than we've had in the last few years," Armstrong said. The rains have eased concern of a late winter crop planting season in March and April, although meteorologists are still expecting a drier than normal summer in crop growing regions. (Editing by Ron Popeski) World More from Reuters Pictures of the Decade Pictures Outlook 2010: Return of the mac Global macro funds are set to battle for the top spot in what will likely be a more testing year than the last one. Full Article Strong gains help end '09 on high note Video: Hedge funds hit $2 trillion mark Funds Pictures of the Year A man surrounded by a raging fire in Cairo is among the indelible Reuters images of the year. 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