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The latest forecast from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) predicted the value of Australia’s agricultural output to rise one per cent to $94.7 billion in 2025-2026, nearing the national goal of $100 billion by 2030.
This is largely to be driven by livestock feeding a growing global demand, with crop values to fall somewhat on the previous year.
National Farmers Federaion president David Jochinke said despite the sector taking a hit from droughts, floods and uncertainty from global trade disruptions, farmers had held a steady hand.
“The lift is largely underpinned by strong livestock prices, but credit must be given to calm approach by the government and industry on the tariff turbulence,” he said.
“Most of all, the result is also a reflection of blood, sweat and smart investment from farmers.”
However, the tariffs imposed on Australian meat imports has remained at the baseline of 10 per cent.
Meat and Livestock Australia has said US demand for beef remains high, with Australian exports increasing 24 per cent year-on-year, despite the tariffs.
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Jochinke said with the 2030 goal within reach, another push was necessary to get Australia over the line.
“We need to seize opportunities in front of us, like the EU (free trade agreement), ensuring they deliver meaningful market access for Australian agriculture. This will be a smart move toward value-adding and market diversification,” he said.
He also called for “red and green tape” to be cut.
“If government can back agriculture with the right policy settings, farmers will do the rest.”