{"id":358075,"date":"2025-03-04T12:48:57","date_gmt":"2025-03-04T02:48:57","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=358075"},"modified":"2025-03-04T12:48:57","modified_gmt":"2025-03-04T02:48:57","slug":"ag-value-tipped-to-reach-91b","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2025\/03\/04\/ag-value-tipped-to-reach-91b\/","title":{"rendered":"Ag Value Tipped To Reach $91b"},"content":{"rendered":"
\"\"<\/a>
Demand for red meat is reflected in both strong export volumes and rising export prices, according to ABARES<\/figcaption><\/figure>\n

March 4, 2025<\/strong><\/p>\n

The value of agriculture in 2025-26 is expected to be the third highest on record at $91 billion, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).<\/p>\n

ABARES expects the sector to reach $98 billion when fisheries and forestry figures are included.<\/p>\n

\u201cWhile this is slightly down on an exceptional 2024-25, particularly strong results are forecast for livestock and livestock products \u2013 expected to reach a new record value of $40 billion,\u201d Executive Director Dr Jared Greenville said.<\/p>\n

\u201cDemand for red meat is reflected in both strong export volumes and rising export prices, which has led to the total value of meat exports expected to hit $22 billion this financial year.<\/strong><\/p>\n

\u201cAgricultural exports are also looking healthy next year, with the value forecast to remain relatively steady at $72 billion \u2013 or $77 billion if we include fisheries and forestry.<\/p>\n

\u201cOn the cropping front this year, national winter crop production is estimated to have increased to 59.8 million tonnes in 2024\u201325, 27 per cent above the 10-year average and the third largest on record.<\/p>\n

\u201cSummer crop production is predicted to fall slightly in 2024\u201325 but will remain 28 per cent above the 10-year average at 4.7 million tonnes.<\/p>\n

\u201cConditions for winter crops were favourable across most of NSW and Queensland with timely rainfall in Western Australia. However, both Victoria and South Australia faced poor seasonal conditions resulting in lower crop yields.<\/p>\n

\u201cBased on the back of these livestock and cropping trends, average farm financial performance is estimated to increase for broadacre farms.<\/strong><\/p>\n

\u201cOn average, national broadacre farm cash income is forecast to rise by $89,000 in 2024\u201325 from $124,000 to $213,000, mostly driven by higher livestock prices and greater crop production.<\/p>\n

\u201cNext financial year, average farm incomes are expected to increase further, to $262,000 per farm as input costs ease and higher prices support both crop and livestock receipts.<\/p>\n

\u201cThat said, dry conditions in parts of South Australia and Victoria led to below-average farm financial performance in 2024\u201325 in those regions, but they are turning a corner. Improving climate conditions in these states are expected to lift production and profitability next financial year.\u201d<\/p>\n

ABARES is the science and economics research division of the Federal Department of Agriculture, Fisheries and Forestry.<\/p>\n

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