Due to the outbreak of the Delta Covid 19 strain, Australia’s population has again gone into a strict lockdown. In fact, border closures are posing extremely serious hurdles for the government economists at the Australian Bureau of Agricultural and Resource Economics and Sciences. now expect the agriculture industry will grow a whopping 73 billion worth of products this financial year. It is realised that this will be the first time farmers have broken through the 70 billion barriers, up from 66.3 billion in 2020-21 and 59.6 billion in drought-ravaged 2017-18. Good weather across most of the country, combined with drought in Russia, Canada, and the united states, will boost returns for grain growers now expected to export 30 billion of winter corp, which is an increase of 17 per cent.
Australian farmers are expected to grow and sell a record 73 billion of produce in 2021-22. Good weather conditions and high precison decisions are driving returns for livestock, grains, fruit and vegetable farmers. Additionally, freight and labour costs, a mouse plague, covid-19, and foreign trade are challenges for the farm sector.
ABARES states sugar, cotton, and grain growers are on track to reel in almost 40 billion in 2021-22. There is an almost insatiable hunger for protein, a return to good seasons, and herd rebuilding is expected to keep livestock prices near record highs, with the value of the red meat sector forecast to jump by 8 per cent this year to 33.5 billion. The value of Aussie-grown fruit and vegetables is also expected to hit a record, hauling in more than 12 billion at the farm gate. Therefore, it can be opined that even though there is a shortage of labour, the Australian crops are doing well and it is absolutely favourable.