Bumper winter harvest and saleyard prices push agricultural production to $65 billion

Despite the COVID-19 pandemic, agriculture has pushed through to achieve $65 billion in production thanks to drought breaking rain and a near record winter crop harvest
Australian agricultural production to reach $65 billion
Agricultural production at $65b is a record result and well on the way to hitting the government’s $100b target by 2030

With a bumper winter crop harvest finishing on a high note, the gross value of agricultural production is forecast to rise to $65 billion in 2020-21, a 7% increase over last year.

When you add income from other industries such as fisheries and forestry production, the combined figure is $70.5 billion for 2020-21.

This result suggests the Ag2030 Strategy of achieving $100 billion in production by 2030 is an achievable target.

Agriculture Minister David Littleproud said the result was a testament to the resilience of farmers, the better seasonal conditions and support measures applied by the Australian Government.

“Growth is driven by drought recovery with Australia’s second largest winter crop, the best ever in NSW, a favourable outlook for summer cropping, and high livestock prices,” Minister Littleproud said.

“This is an outstanding result for the farming sector that has helped stay on an even keel despite all the challenges 2020 has thrown at us.

“Australians should be justly proud of what farming has achieved this year. Now more than ever we know the importance of the agriculture sector to our economy.”

“From day one of the pandemic the Australian Government recognised that agriculture was essential and worked to ensure that COVID-safe plans were in place, supply chains remained open and moved to help secure the agriculture workforce.

“These latest figures are a testament to the effectiveness of those actions and the resilience of our farming sector.

“As we and the global economy recovers from the COVID-19 pandemic, it will be agriculture once again leading the way.” 

However, Minister Littleproud also acknowledged growing trade tensions and shortfalls in the agriculture workforce will present ongoing challenges to the farming sector.

“I am particularly concerned at the potential impacts of China’s decisions to impose anti-dumping and countervailing duties on barley and the recent impost of provisional anti-dumping duties on Australian wine,” Littleproud said.

“But I am buoyed by this latest forecast. In October I laid out the Government’s Ag2030 Strategy to support the industry target of $100 billion and I am committed to supporting Australian agriculture to reach its full potential.”

How agricultural production adds up:

  • Gross value of Australian Agriculture production forecast to increase to $65.1 billion in 2020-21.
  • Winter crop production is forecast to be the second highest on record.
  • Value of crop production is forecast to increase 25% to $34.1 billion.
  • Value of livestock production is forecast to fall 7% to $31 billion.
  • Value of agriculture exports forecast to fall 7% to $44.8 billion.
  • Total farm, fisheries and forestry production to reach $70.5 billion.

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