{"id":344915,"date":"2024-03-05T13:32:48","date_gmt":"2024-03-05T03:32:48","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=344915"},"modified":"2024-03-05T13:32:48","modified_gmt":"2024-03-05T03:32:48","slug":"production-up-exports-down","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2024\/03\/05\/production-up-exports-down\/","title":{"rendered":"Production Up, Exports Down"},"content":{"rendered":"
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ABARES has predicted increased value for crops and livestock but a drop off in exports\u00a0 (Photo: ABARES)<\/figcaption><\/figure>\n

March 5, 2024<\/strong><\/p>\n

Australia\u2019s farm, fisheries and forestry sectors are set to rebound in 2024-25, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).<\/p>\n

The group’s latest reports are predicting that the gross value of production in 2024\u201325 will increase after poor seasonal conditions affected outcomes in 2023-24.<\/p>\n

\u200bExecutive Director Dr Jared Greenville said a rebound of up to 6 per cent was predicted, bringing the gross value of Australian farms, fisheries and forestry to $90.8 billion, the third highest on record.<\/p>\n

\u201cThe gross value of Australian crops production, as well as livestock and livestock products, are both estimated to increase to $48.7 billion and $36.2 billion respectively,\u201d Dr Greenville said.<\/strong><\/p>\n

\u201cFor our livestock production and livestock products industries this is a record high and the result of expected favourable climate conditions and improving prices.<\/p>\n

\u201cAbove-average summer 2023\u201324 rainfall and subsequent build-up of soil moisture reserves in eastern Australia is expected to provide a good incentive for planting ahead of the 2024\u201325 winter crop season.<\/p>\n

\u201cThe forecast improved growing season climate conditions and the expected turnaround in livestock prices in 2024\u201325 will drive increases in farm income.\u201d<\/p>\n

\u200bWhile the 2024\u201325 production outlook is favourable, the forecasts predict exports will continue to decline.<\/strong><\/p>\n

\u200b\u201cIn 2023\u201324 the value of Australia\u2019s agriculture, fisheries and forestry exports is forecast to fall by 13 per cent to $71.6 billion, but this follows the record high the industry experienced the previous year,” Dr Greenville said.<\/p>\n

\u201cThis decline is expected to continue, with an additional 5 per cent decline expected, leaving the 2024\u201325 value at $68.1 billion.\u201d<\/p>\n

External links:<\/strong><\/p>\n