Australian on-farm production set to hit record $ 66.3 billion in 2021


Australian on-farm production set to hit record $ 66.3 billion in 2021

July 01, 2021

Australia’s agricultural sector has weathered the upheavals of COVID-19 and the changing international trading landscape and is on track for a record production of $ 66.3 billion this year, according to a recent analysis by ABARES.

ABARES ‘ June 2021 Quarterly Agricultural Commodity Report shows how the industry overcame the uncertainties and challenges posed by COVID-19 and the changes in the international trade landscape.

ABARES Acting Executive Director Dr Jared Greenville said the value of agricultural exports is estimated at just under $ 47 billion in 2020-2021.

“ABARES revised both the gross value of production and the value of exports by $ 400 million from previous estimates,” Dr Greenville said.

“This is due to high domestic livestock prices and the pace of Australian grain exports has been faster than expected after harvesting the second largest winter harvest on record.

“We have seen an impressive turnaround in wheat, barley and canola shipments. In particular for barley, this result demonstrates the resilience of supply chains, the advantages of a diverse production base and access to a diverse range of international markets.

Next year (2021-2022), the gross value of production is expected to rise from an all-time high to an impressive $ 65 billion.

“The outlook is positive for the next winter harvest, which has seen record acreage planted, but it is highly unlikely that there will be two consecutive record years,” said Dr Greenville.

“The value of exports is expected to reach $ 49.7 billion in 2021-2022, thanks to higher exports of beef, wool and dairy products, as well as a strong recovery in cotton exports.

“The herd rebuilding is still underway, but we expect more animals to start entering meat processing in 2021-2022, which should also ease the pressure on the processing sector’s margins. red meat.

“The impact of the mouse invasions has been devastating locally, but nationally the damage has been reasonably limited.

“The worst impacts have been the storage of grain and hay in parts of Queensland and New South Wales, although high mouse activity has been observed in many parts of the wheat belt.

“The worst of mouse plague is probably behind us, as cool, wet winter conditions are slowing reproduction rates. There remains a risk of resurgence if the winter is warmer than expected.

The June 2021 Quarter Agricultural Commodity Report is now available on the ABARES website.

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