{"id":172010,"date":"2017-03-08T21:27:30","date_gmt":"2017-03-08T11:27:30","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=172010"},"modified":"2020-09-21T16:56:05","modified_gmt":"2020-09-21T06:56:05","slug":"abares-forecasts-record-farm-production","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2017\/03\/08\/abares-forecasts-record-farm-production\/","title":{"rendered":"ABARES Forecasts
Record Farm Production"},"content":{"rendered":"
\"\"<\/a>
An aerial view of South Burnett famlands … even though most of Queensland remains drought-stricken, ABARES expect the value of Australian farm production to break all records this year<\/figcaption><\/figure>\n

March 8, 2017 <\/strong><\/p>\n

The gross value of Australian farm production is forecast to increase by 8.3 per cent to a record $63.8 billion in 2016-17, easing slightly to $61.3 billion the following year.<\/p>\n

ABARES Executive Director Peter Gooday said on Tuesday that even with the forecast decline in 2017-18, the gross value of farm production would be 17.3 per cent higher than the average of $52.3 billion over the five years to 2015-16.<\/p>\n

“The exceptional value of farm production this year comes off the back of record crop production and strong performance across livestock industries,” Mr Gooday said.<\/p>\n

“The gross value of crop production is forecast to increase by 20.2 per cent this financial year to $33.9 billion, following record production of wheat and barley.<\/p>\n

“In 2017-18 we\u2019re forecasting crop production to decrease to $30 billion, which would still be around 8 per cent higher than the average of $27.9 billion over the five years to 2015-16.”<\/p>\n

However, the gross value of livestock production is forecast to decrease 2.6 per cent in 2016-17 as cattle and sheep numbers are rebuilt following high turnoff in recent years.<\/strong><\/p>\n

“The gross value of livestock production is forecast to increase by 4.4 per cent to $31.2 billion in 2017-18 as cattle slaughter rises after two years of declining turn-off and wool production rises.<\/p>\n

“If realised, the gross value of livestock production in 2017-18 would be around 28 per cent higher than the average of $24.4 billion over the five years to 2015-16 – very strong performance indeed.”<\/p>\n

Mr Goday said the outlook for farm production in the medium term remains strong, with a gross value of $59.6 billion forecast for 2021-22, 8.6 per cent higher than the average over the five years to 2015-16.<\/p>\n

Mr Gooday said export earnings from farm commodities were also forecast to reach a record $48.7 billion in 2017-18, topping the $47.7 billion forecast in 2016-17.<\/p>\n

“Most of that increase has come from increased crop exports following an exceptional season,” Mr Gooday said.<\/p>\n

In 2017-18 export earnings are forecast to rise for beef and veal (up 1 per cent), wool (10 per cent), dairy products (11 per cent), sugar (10 per cent), cotton (35 per cent), wine (5 per cent), lamb (3 per cent), live feeder\/slaughter cattle (4 per cent), rock lobster (6 per cent) and mutton (1 per cent).<\/p>\n

These forecast increases in 2017-18 are expected to be partly offset by expected declines in export earnings for wheat (down 9 per cent), coarse grains (11 per cent) and canola (6 per cent).<\/strong><\/p>\n

Export earnings for chickpeas are also expected to decline 42 per cent as production volumes drop from record levels and international prices ease.<\/p>\n

The figures were published in the March 2017 edition of Agricultural Commodities, released on Tuesday at ABARES Outlook 2017, Australia\u2019s leading forum for public and private decision-makers in agriculture.<\/p>\n

Outlook marks its 47th annual conference this year with expert analysis of innovation in agriculture.<\/p>\n","protected":false},"excerpt":{"rendered":"

The gross value of Australian farm production is forecast to increase by 8.3 per cent to a record $63.8 billion in 2016-17, easing slightly to $61.3 billion the following year.<\/p>\n","protected":false},"author":3,"featured_media":141875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\nABARES Forecasts Record Farm Production - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"The gross value of Australian farm production is forecast to increase by 8.3 pc to a record $63.8 billion in 2016-17, easing to $61.3 billion in 2017-18\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2017\/03\/08\/abares-forecasts-record-farm-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABARES Forecasts Record Farm Production - 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