Crops on the rise

20 September 2016

According to the Bureau Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the gross value of Australian farm production is set to increase to $58.4 billion in 2016–17, although export earnings from farm commodities are expected to fall slightly to $44 billion.

The latest ABARES Agricultural Commodities report forecasts that gross value of Australian crop production will increase by 6.6% to $29.2 billion, while that of livestock will remain largely unchanged at $29.2 billion.

However, the report presents a mixed outlook for export earnings from farm commodities.

While earnings from wheat are expected to remain largely unchanged, they are set to rise for wool (up 6%), sugar (up 21%), wine (up 1%), cotton (up 40%), lamb (up 3%) and canola (up 43%).

Export earnings for fisheries will also increase, by an estimated 8% to $1.7 billion.

But ABARES expects declining export earnings for beef and veal (down 12%), dairy products (down 1%), live feeder/slaughter cattle (down 4%), and mutton (down 17%).

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