Australia cautious of international trade conditions despite reaching best year for agriculture production
Australia s peak agriculture industry body, the National Farmers Federation (NFF) says the latest production figures forecast this year to be the sector’s best on record.
The NFF has set a target of achieving $100billion in farmgate value for Australian agriculture by 2030, and speaking at the ABARES Outlook 2021 conference, President Fiona Simson admitted that on current trajectory estimates there could possibly be a $16billion shortfall. However, spirits were boosted when the Australian Bureau of Agriculture and Resource Economics and Science released its forecasts, which show farm production to total $65.9 billion in 2020-2021, driven by strong commodity prices and improved seasonal conditions.