AUSTRALIA’S agricultural exports are set to hit a record $65 billion in value in 2022-23 as total production tops $80 billion for a second straight year.
Executive director of ABARES, Dr Jared Greenville, said the sector would weather input and supply chain challenges to produce $80.4 billion in commodities on the back of favourable conditions and high global prices.
“Record crop exports are forecast to be worth $39.8 billion in 2022-23, as Australian farmers are on track for another exceptional season,” Dr Greenville said.
“Exceptionally high grain prices are expected due to poor seasons for major producers overseas and the unfortunate side-effects of Russia’s invasion of Ukraine on world grain markets.
“Soaring fertiliser costs and access to farm labour and imported machinery will continue to challenge many Australian farm businesses, but Australia has shown throughout the pandemic that we are a reliable and resilient food producer and exporter.
“While ongoing disruptions to global supply chains are expected to continue to challenge exporters, exports are not expected to be meaningfully restricted.”
