Australian Farmers Expecting To Break Record For Agricultural Exports

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The Australian fiscal year is looking positive so far. After surviving years of heavy rains, Australian farmers are expecting to reap the benefits that came after. The heavy rains unexpectedly boosted its winter crop production yields, primarily wheat-driven.

According to the executive director of the Australian federal Bureau of Agricultural and Resource Economics (ABARES), Jared Greenville, “Australia is benefiting from a third consecutive year of high rainfall, and the figures reflect this. We see record levels of production once again, fueled by exceptional growing conditions and high commodity prices.”

Greenville added that wheat and canola production might set new records. ABARES is also anticipating that the barley output will be in its third highest year, expecting to generate about $81 billion, despite being predicted to be lower than the previous years.

According to experts, Australian farmers are cashing in on the higher prices brought about by the war in Ukraine on top of the disruption in the food supply chains caused by the pandemic. Another factor that pushed the prices higher was the droughts experienced by other agricultural countries.

Tony Bacic, director of La Trobe Institute for Agriculture and Food, added that “we have been incredibly lucky. That high level of production is certainly due to rain, but also having rains at the right time. The stars were aligned. If the rains had come a bit later or hadn’t dried out in time, we could have lost a major crop.”

The expected good yields were brought about by the consecutive La Niña periods. Over the last few years, the lower global temperatures caused heavy rains in countries like Australia and Canada.

Australian National University senior lecturer Sonia Akter noted that the country had overcome the agricultural losses brought about by the flood with a significant increase in production. However, Akter believes this may change with the predicted drier weather in the following years.

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