Bumper year for agriculture

Despite devastating floods in the eastern states, the Australian agriculture industry is on track for an outstanding 12-month result.

Executive Director of the Australian bureau of Agriculture and Resource Economics and Sciences (ABARES), Dr Jared Greenville, said the ABARES Agricultural Commodities and Crop Reports show new benchmarks in export commodities, and high yields for winter crops.

“The gross value of agricultural production is forecast to be a near-record $85 billion in 2022-23, just shy of the record set the previous year. Meanwhile, the winter crop is forecast to be the second largest on record at over 62 million tonnes. Livestock production is expected to hold steady, contributing $34 billon to the national total,” Dr Greenville said.

“Another bumper year combined with high commodity prices means Australia’s agricultural exports are forecast to break records at over $72 billion in 2022-23.”

While spring rain has impacted production, yields, and quality in some parts of the country, some states are experiencing their best winter crops on record, Dr Greenville said.

“Crops in Western Australia and South Australia benefitted the most from spring conditions, with total production in both states forecast to reach new record levels. Total production in Queensland is forecast to reach the second highest on record, despite parts of the Darling Downs missing out on plantings after being impacted by the floods.

“We saw a record amount of crop planted in Victoria this year. At the state level, high yields in the Mallee and the Wimmera will offset crop losses in central and northern border regions. However, the full picture of damage to crops from extensive waterlogging remains an unknown.”

The Agricultural Commodities Report – December can be read here at www.agriculture.gov.au/abares/research-topics/agricultural-outlook/agriculture-overview.