This is made possible by above-average prices for most agricultural products, strong international demand for the corona pandemic and – aided by rainfall – another very high harvest of grain, oil crops and cotton.
According to analysts from Canberra, the output value of Australian agriculture is likely to increase by 7.6% year-on-year to a new high of around A $ 73.0 billion (EUR 45.2 billion) in the 2021/22 campaign. The processing industry is expected to contribute an increase of 8.3% to A $ 33.5 billion (EUR 20.7 billion), and crop production an increase of 7.0% to A $ 39.5 billion (EUR 24.4 billion) . Euro). Abares also sees agricultural exports as very dynamic in the current financial year; the respective revenues are expected to increase by 12.4% compared to 2020/21 to the new record level of 54.7 billion A $ (33.8 billion euros).
The positive development of the agricultural sector will also be reflected in the incomes of farmers: an increase of 12.9% year-on-year to A $ 28.2 billion (EUR 17.4 billion) is forecast for the sectoral gross profit. Abares pointed out, however, that the further progress of the global corona pandemic, scarce and expensive freight rates, limited labor availability and, in some cases, the mouse plague were risk factors for the positive prognosis.
Agriculture Minister David Littleproud was delighted with the good development of the agricultural sector. “This is remarkable in difficult economic times, and many industries in Australia have not experienced such growth,” said the head of agriculture. The second good year in a row with a record harvest and high livestock prices arouse the optimism of the farmers.
The President of the National Farmers Association (NFF), Fiona Simpson, emphasized that the agricultural sector is getting closer and closer to the target of a production value of A $ 100 billion (EUR 619 million) by 2030. “The good result is more than just luck and rain,” emphasized the President, referring to the performance of the farmers.
Exchange rate: 1 A $ = 0.6185 euros
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