Agricultural production reaches historic highs | Canberra weather


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Australian farmers are expected to break records for production value and volume in 2021-2022 due to exceptional seasonal conditions and soaring global commodity prices. This is according to the latest quarterly report from the Australian Bureau of Agricultural Economics and Sciences and Resources (ABARES), released on Tuesday. Despite recent damage from floods and rains in the eastern states, ABARES’s agricultural commodities report for the December quarter projects a record gross agricultural production value of $ 78 billion. This is $ 5.4 billion more than predicted just a few months ago. While the value of agricultural exports is expected to reach a record $ 61 billion. The ABARES report found that production will likely increase year by year for every major livestock product and almost every major crop product, while it is also expected that farmers will produce the highest volume ever. ABARES Executive Director Jared Greenville said Australia has enjoyed an extraordinary combination of favorable conditions and high prices for 30 years. “This would be the first time in at least half a century that production will increase for so many products at the same time,” said Dr Greenville. “And if these predictions come true, 2021-2022 will see the largest total volume of agricultural products Australia has ever produced.” “Prices have also reached multi-year highs for many agricultural products,” said the boss of ABARES. “Higher export volumes and prices are forecast for almost all major export commodities, with the total value of agricultural exports revised up from $ 6.5 billion to $ 61 billion, also a record high. “, did he declare. “This increase in the value and volume of Australian agricultural production is unprecedented and is the result of exceptional growing conditions here and bad seasons experienced by major overseas competitors.” “There is uncertainty over how long prices will stay at these levels – and supply chain disruptions, rising fertilizer prices and heavy rainfall nationwide will continue to be watch points.” “This forecast explains the unfortunately scheduled substantial rainfall and localized flooding in the growing areas of the east coast in November.” Dr Greenville said that while the delay in harvests would cause crop losses, it is unlikely to have a significant impact on Australia’s national harvest tonnage. “The biggest impact will be on grain quality, with a higher than usual proportion of the crop being lower value feed grade wheat.” Australian Associated Press

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