- In 2018–19 the value of farm production is forecast to be relatively unchanged at $60 billion.
- Export prices are forecast to increase by around 3% in 2018–19, driven by a decline in the global supply of grains and strong demand for meat products.
- Downside risks to Australian agriculture include the duration of the drought and a possible disruption to world agricultural markets due to protectionist trade measures.
- Dry conditions are affecting agricultural production in eastern Australia, but strong forecast production in Western Australia, rising grain prices, high livestock prices and a lower Australian dollar are providing support to farm incomes.
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