Agriculture Commodities Forecast

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Agriculture Commodities Forecast

ABARES has released its outlook into Australia’s agriculture commodities from 2021-2022. The agricultural sector is expected to break another record of return over the last financial year at $63.8 billion. However, this growth is anticipated to stagnate and then decline to $59.6 billion by 2021-22. The outlook recognised the climate of political uncertainty in the United States and Europe as well as the prospects afforded to Australia due to China’s transitioning economy and slowing rates of economic growth. Current farm exports from Australia are valued at $47.7 billion and by 2021-22, agriculture exports are expected to be valued at $46.6 billion. Agriculture commodities should expect this decline by 2022 due to the lower Australian dollar and decline in the global value of agricultural products. The commodity forecasts put forward in the Report will be discussed at upcoming conferences around regional Australia from to mid-late 2017. Conference registration is now open for regional outlook conferences.

Renmark, South Australia – 3 May

Darwin, Northern Territory- 5 July

Ararat, Victoria – 26 July

Devonport, Tasmania – 23 August

Kununurra, Western Australia – 20 September

Toowoomba, Queensland – 4 October

Tamworth, New South Wales – 25 October

 

 

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