THE AUSTRALIAN Bureau of Agricultural and Resource Economics and Sciences (ABARES) has released its latest forecast, with the agriculture industry on track to reach $100 billion for FY2025.
National winter crop production is expected to increase by 10% to 66.3 million tonnes (Mt) in 2025–26, the second largest winter crop on record.
This was despite less-than-favourable conditions in parts of southeastern Australia that experienced a drier than expected spring season, according to the report.
Summer crop production is expected to fall but remain above average.
Wheat, barley and canola were the top agri-commodities, with production numbers coming in at 35.6Mt, 15.7Mt and 7.2Mt respectively.
Agriculture minister Julie Collins said it had been a significant year for farmers.
“Thanks to their hard work, innovation and commitment to excellence, the value of our agriculture industry is on track to reach almost $100 billion this financial year,” she said.
“Our commitment to working with farmers to progress their priorities and to deliver support when they are facing challenges, particularly during drought conditions, never stops.”
The December quarter report forecasts the gross value of agricultural production will rise to $99.5 billion throughout the 2025 financial year and more than $106.4 billion including the value of fisheries and forestry.
Summer crop production by state
Exports are forecast to reach a record $83.9 billion during the same period due to ongoing demand for Australian agriculture fisheries and forestry products, the report said.
The federal government’s resumed trade with China, estimated at $20 billion, has also strengthened demand.