Skip to main content Skip to main navigation Skip to search

Help for those affected by flood

Visit nema.gov.au.

Close
ABARES

Top navigation abares

  • Department
  • Ministers
  • Media Centre
Main menu

Main navigation ABARES

  • ABARES Home
    ABARES Home
  • About
    About
  • Research topics
    Research topics
  • Products
    Products
  • Data
    Data
  • News
    News
  • Conferences and events
    Conferences and events
  • Careers
    Careers
Department of Agriculture

Breadcrumb

  1. DAFF Home
  2. ABARES
  3. News and media
  4. La Nina’s last hurrah as drier conditions expected ahead

Back to news - ABARES

  • Back to news

La Nina’s last hurrah as drier conditions expected ahead

  • Media release
  • Agriculture
  • Farming
  • Exports
  • ABARES
7 March 2023

The record-breaking streak for Australian agriculture is set to continue in 2022-23 with the sector expected to reach $90 billion this financial year.

Executive Director of ABARES Dr Jared Greenville said record gross value of production is expected despite the floods across eastern Australia.

“Australia is benefitting from a third consecutive year of high rainfall, and it shows in the figures,” Dr Greenville said.

“Once again, we’re seeing record levels of production, driven by exceptional growing conditions and high commodity prices.

“The value of production when we include fisheries and forestry, is $96 billion.

“Agricultural exports are also forecast to set new records, reaching $75 billion in 2022–23. This is the first time we’ve seen our exports exceed $70 billion, which is a huge achievement.

“National winter crop production has driven much of these results, with the winter crop estimated at a new record of 67.3 million tonnes in 2022–23. This beats last year’s record by 4 million tonnes and is being drive by exceptional results out of Western Australia and South Australia.

“Production of wheat and canola are estimated to have reached new records, while we can expect the third highest barley production on record.

“High values of livestock production have also contributed to these record numbers, with producers increasing their production while also benefitting from historically high prices.

“This year will likely be the last hurrah for the La Nina rain system for a while, and we can expect drier seasonal conditions ahead. However, production will continue to be supported by good soil moisture and high water storage levels.

“While we expect production to be lower in 2023–24, at $81 billion it will still be the third highest on record.

“Australia has been very fortunate to have had wet years and high commodity prices. But we are expecting commodity prices to ease with competition stepping up in global markets.

“Recent high international prices have been driven by drought conditions in major exporters and disruptions from the war in Ukraine. But seasonal conditions are expected to improve in major producing regions which will see major exporters getting back on track in 2023–24.

“Over the medium term to 2027–28, seasonal conditions are expected to return to a more normal sequence and commodity prices are expected fall. The value of agriculture will remain strong, reaching $74.4 billion in real terms.

“However, should we see a shift back towards a drier climate sequence and global economic uncertainty carry on for longer, greater pressure will be placed on sector growth.

“But we’ve had three years to create a buffer and recover from the last drought, so many of our farmers will be well placed to ride out these domestic and international changes.”

The most recent Agricultural Commodities Report can be read here: https://www.agriculture.gov.au/abares/research-topics/agricultural-outl….

The Australian Crop Report can be read here: https://www.agriculture.gov.au/abares/research-topics/agricultural-outl…

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Email
  • Copy link

Contact us

Agriculture:

media@agriculture.gov.au

(61 2) 6272 3232

Related

Image of dairy cattle standing in a green field

Farm incomes to ease as prices drop, inputs rise

  • Media release
  • ABARES
07 March 2023
Adrian Bormann, Murray Plains Farmers Treasurer, Steen Paech, Murray Plains Farmers President, and Dan Seidel, Drought Resilience Research and Adoption Hubs Advisory Committee Member, at the canola establishment trial site near Palmer, South Australia (left to right). Photo credit: South Australian Drought Hub.

Improving canola establishment in dry conditions

  • Case study
  • Future Drought Fund
04 January 2023
Person standing in field

Regenerative grazing on Tasmania’s east coast

  • Case study
  • Future Drought Fund
04 January 2023
Thanks for your feedback.
Thanks! Your feedback has been submitted.

We aren't able to respond to your individual comments or questions.
To contact us directly phone us or submit an online inquiry

CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Please verify that you are not a robot.

Skip

Footer

  • Contact us
  • Accessibility
  • Disclaimer
  • Privacy
  • FOI
Last updated: 07 March 2023

© Department of Agriculture, Fisheries and Forestry

We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging.