Rains bring record-breaking year for farmers

Australia is forecast to reach another record-breaking year for winter crops, value of farm production and exports, following three consecutive years of exceptional growing conditions.

The 2022-23 ABARES Outlook, released today, reveals the gross value of production for agriculture, fisheries and forestry for 2022-23 is expected to reach $96 billion this financial year.

The Snapshot of Australian Agriculture 2023 shows that Australian broadacre and dairy farms received record farm cash incomes in the past two financial years.

Incomes for dairy farms are projected to increase by around 20 percent per farm over the next year.

Minister for Agriculture, Fisheries and Forestry Murray Watt welcomed the forecast.

“Some states have produced their biggest winter crops on record and these results have provided a huge boost to our farmers and our agriculture industry as a whole,” Minister Watt said.

“The rain this season has been a tale of two extremes; with the heavy rainfall causing some crops to thrive, while wiping others out.

“I know the rains have been incredibly difficult for many flood-impacted communities, including farmers who are still rebuilding, and the Albanese Government continues to stand with those communities.

“For those experiencing prime conditions, record levels of production, driven by exceptional growing conditions and high commodity prices will put them in good stead to prepare for the future.

“Despite the strong forecast, we can’t be complacent and need to ensure the sector is as prepared as possible to handle the inevitable dry times that lay ahead.

"This year we can expect to see drier seasonal conditions going forward and we’ll also likely see an easing in the record high commodity prices we’ve been enjoying for the last few years.

"The Albanese Government is committed to working with farmers and industry in good times and tough ones too."