URGENT UPDATE: Australian farmers are on the brink of a financial breakthrough as record agricultural production is projected. According to the latest forecast from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the value of agriculture, fisheries, and forestry in Australia is set to soar to a staggering $106.4 billion in the 2025-26 financial year—$14 billion more than the previous year.
ABARES Executive Director Jared Greenville confirmed that agricultural production alone is expected to total $99.5 billion, marking the highest figure on record. “Livestock prices continue to strengthen due to firm global and domestic demand, boosting the value of livestock and livestock product output,” Dr. Greenville stated on Tuesday.
The forecast also predicts that the combined value of agriculture, fisheries, and forestry exports will reach an all-time high of $83.9 billion for 2025-26, further solidifying Australia’s leadership in these sectors.
Farm profitability is set to improve significantly, with average broadacre farm cash income projected to hit $227,000 per farm in 2025-26. The national winter crop outlook remains robust, with production anticipated to reach 66.3 million tonnes—the second-largest winter crop on record. Dr. Greenville emphasized that harvests are already underway across all states, with above-average yields reported in northern New South Wales, Queensland, and Western Australia.
However, the picture isn’t entirely rosy. Some regions in southeast Australia have experienced a dry spring, negatively impacting yields. “These latest forecasts highlight the resilience and competitiveness of Australia’s agriculture, fisheries, and forestry sectors as they head into 2026,” Dr. Greenville added.
Despite the overall positive outlook, wine grape production faces challenges. Forecasts indicate that output will decline by 11 percent to 1.4 million tonnes, which is 10 percent below the ten-year average. The industry is grappling with tough seasonal conditions and rising input costs, which are expected to squeeze prices further and dampen production incentives.
As these developments unfold, farmers across Australia are preparing for a potentially transformative year. The agricultural sector’s strength is crucial not only for the farmers but for the entire economy, emphasizing the urgent need for adaptive strategies in the face of ongoing climate challenges.
Stay tuned for more updates as this story develops and impacts the agricultural landscape across Australia.
