ThePigSite.com - news, features, articles and disease information for the swine industry

News

Value of Australian Farm Production Set to Rise

22 September 2016

AUSTRALIA - The gross value of Australian farm production is forecast to increase to $58.4 billion in 2016-17, according to the latest analysis released in the Agricultural Commodities report from ABARES, the research arm of Australia's agriculture department.

Acting ABARES Executive Director, Peter Gooday, said that if predictions are realised, the gross value of farm production would be around 13 per cent higher than the average value for the past five years.

“In 2016–17, the gross value of crop production is set to increase by 6.6 per cent to $29.2 billion, which is largely due to a rise in the gross values of horticulture, cotton and oilseed production,” Mr Gooday said.

“The gross value of livestock production is also forecast at $29.2 billion, which remains largely unchanged after an estimated 7.7 per cent increase in 2015-16.

“Following a modest increase of 1.3 per cent in 2015-16, export earnings from farm commodities are forecast to fall slightly to $44 billion in 2016-17.

“While cattle prices are expected to remain strong, beef exports are forecast to fall by 12 per cent as herd rebuilding limits supplies for export.”

Commodities for which export earnings are forecast to fall in 2016-17 are beef and veal (-12 per cent), dairy products (-1 per cent), live feeder/slaughter cattle (-4 per cent) and mutton (-17 per cent).

Rises in export earnings are forecast for wool (6 per cent), sugar (21 per cent), wine (1 per cent), cotton (40 per cent), lamb (3 per cent) and canola (43 per cent).

“Export earnings for fisheries products are also forecast to rise by 8 per cent to $1.7 billion in 2016-17, following an increase of 7 per cent in 2015-16,” Mr Gooday said.

 

ThePigSite News Desk



Share This

News By

Related News

Manitoba Detects 10th PED Case

News from Canada  26 September 2016

More News

EU Pig Prices: Balanced Markets

News from European Union   29 September 2016

Our Sponsors

Partners


Seasonal Picks

The Commuter Pig Keeper - 5m Books