Local agricultural production is on track for a record-breaking year, with an expected farmgate value of $65.9 billion in season 2020-21 that is helping to drive the nation’s recovery
The Agriculture sector has made a dramatic turn-around now it has shaken off a three-year drought in many farming regions.
This is an astounding result and testament to our farmers’ hard work, resilience and ability to recover from drought conditions and adapt quickly to avoid any major impact from the COVID-19 pandemic.
Farmers are on the frontline of the nation’s recovery as they have responded big time and now we’re seeing the results, with a near record winter crop harvest, strong meat prices and higher farm incomes.
If the forecasts pan out as expected, season 2020-21 will be an outstanding year for Australian agriculture, with an expected 8% lift in production value over last year on the back of a near record winter crop of 55.2 million tonnes,
Farm cash income for broadacre farms is projected to increase by around 18% at the national level to average $184,000 per farm in 2020–21.
Favourable conditions means strong meat prices will also continue, with the average national farm income projected to increase by 18% per cent to $184,000 a farm in the short term.
It’s a remarkable rebound from drought – in terms of the three years of consecutive decline and the sheer scale of the turnaround.
Our local agricultural industry is on the cusp of an exciting few decades, but prosperity can never be taken for granted and we all need to work together to understand the risks
Everybody working and making an income from farm land will need to be committed to accelerating innovation and agricultural trade growth by building a resilient and agile sector.
