The value of Australian agriculture was $58.9 billion in 2017-18, according to data released today by the Australian Bureau of Statistics (ABS). ABS Director of Agriculture Statistics, Lauren Binns, said this was a slightly lower result for 2017-18 Australian agricultural production, and came off the back of record production for many broadacre crops in 2016-17. This result was the second highest value of agricultural production in recent years.
“The total value of crops decreased 11 per cent to $29.3 billion in 2017-18 returning to similar values to those achieved in 2014-15 and 2015-16. Driving the decrease in 2017-18 was the value of wheat, down 23 per cent to $5.7 billion, and barley, down 14 per cent to $2.3 billion. Some of the decrease was offset by increases in horticultural crops (up 5 per cent to $10 billion) and cotton (up 49 per cent to $2.5 billion),” Ms Binns said.
“The total value of livestock products increased 20 per cent in 2017-18, to $9.6 billion, driven by international demand for Australian superfine wool pushing the value of wool up 30 per cent to $4.5 billion.”
The data also show that the value of livestock disposals in 2017-18 was largely unchanged from 2016-17, at $20 billion. Dry conditions in eastern states meant many sheep farms destocked, which increased the value of sheep and lamb disposals 11 per cent to $4 billion. Australia’s sheep flock decreased 2 per cent to sit at 70.6 million.
Australia’s beef herd remained similar in size to 2016-17 at 23.8 million head. Herd re-building at the start of the season reduced or stopped as seasonal conditions worsened into 2018. The value of beef cattle disposals decreased 1 per cent to $12 billion.
Further information can be found in Agricultural Commodities, Australia, 2017-18 (cat. no. 7121.0); and Value of Agricultural Commodities Produced, Australia, 2017-18 (cat. no. 7503.0).