You are on page 1of 2

Media Release

Australias farm production forecast to top $60 billion


The gross value of Australias farm production is forecast to pass $60 billion for the first time next
financial year, according to the latest ABARES figures.
ABARES Executive Director, Karen Schneider, said the expected modest rise in value was bolstered
by improved prospects for livestock and cropping industries.
Total farm production is forecast to rise by 3 per cent to reach $60.3 billion in 201617, following a
forecast increase of 9 per cent to $58.7 billion in 201516, Ms Schneider said.
The gross value of livestock production is expected to be $30.8 billion in 201617, up from
$30.3 billion in 201516. This is off the back of continued strong international demand for Australias
livestock products.
The gross value of crop production is forecast to rise by 4 per cent to $29.5 billion in 201617
assuming a return to favourable seasonal conditions in most cropping regions.
Ms Schneider said farm exports were forecast to remain strong in 2016-17.
Earnings from farm exports are forecast to remain at around $45 billion in 201617, following a
forecast rise of 3 per cent in 201516, Ms Schneider said.
Export earnings for crops are forecast to be $22.4 billion in 201617, slightly lower than a forecast
$22.7 billion in 201516, because of falling world prices for crops as a result of plentiful global
supply.
Earnings for exports of livestock and livestock products are forecast to rise slightly to a record
$22.6 billion in 201617, supported by firm international demand.
The agricultural commodities for which export earnings are forecast to rise in 201617 are wool (up
7 per cent), dairy products (4 per cent), sugar (7 per cent), live feeder/slaughter cattle (9 per cent),
cotton (22 per cent) and canola (13 per cent).
These forecast increases are expected to be more than offset by expected declines in export
earnings for beef and veal (down 4 per cent), wheat (1 per cent), lamb (3 per cent) and mutton (11
per cent).

By 2020-21, the gross value of farm production is projected to be $58.5 billion (in 201516 dollars),
under the assumption of average seasonal conditions. This projected value is 11 per cent higher than
the average of $52.6 billion over the five years to 201415 in real terms.
The value of farm exports is projected to be around $45.3 billion (in 201516 dollars) in 2020-21,
also around 11 per cent higher than the average of $40.7 billion over the five years to 201415 in
real terms.
The figures were released today in the March issue of Agricultural Commodities at the ABARES
Outlook conference in Canberra.
In addition to the commodity outlook to 202021, the March issue contains analysis of the
performance of broadacre and dairy farms; productivity in Australias broadacre and dairy industries;
and a disaggregation of farm performance statistics by farm size.
The full report is available on the ABARES website.
Media inquiries: 0427 497 189