October 14, 2022
The value of Queensland agriculture, fisheries and forestry production has exceeded $23 billion for the second year in a row.
Agriculture Minister Mark Furner said the outlook for the sector was strong, with ongoing bumper crop harvests and high commodity prices forecast in 2022-23.
“The sector has started to recover from the extremely wet start to the winter cropping season with late plantings in south-west and Central Queensland,” the Minister said.
“Recent high rainfall has replenished water storage and soil moisture levels supporting near record plantings.
“Increased soybean plantings combined with favourable conditions has seen the sector soar, with the highest recorded Queensland soybean crop valued at over $50 million, a 125 per cent increase from 2021-22.
“Sugar is also expecting a bumper crop this year with strong prices and output more than offsetting reductions in sugar content.
“The gross value of milk production increased by 14 per cent, reflecting increased contract milk prices, while wool production was up 6 per cent.”
Mr Furner said that while the industry faced added pressures of extreme weather and biosecurity threats, its “agility” ensured the outlook remained strong.
“It is encouraging to see that even though domestic restocking demand has eased and there is a heightened alert for biosecurity threats facing livestock demand, prices for our largest commodity are still holding firm,” he said.
“In good news for consumers, horticulture has bounced back from the effects of flooding last year and despite increased costs of production, Queenslanders can expect to see ample supplies of quality Queensland fresh produce this year.”
- External link: Qld AgTrends commodity forecasts
