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Australia’s agricultural production is forecast to remain close to record levels this financial year, despite challenging seasonal conditions and higher fuel and fertiliser costs.
Australia’s agricultural production is forecast to remain close to record levels this financial year, despite challenging seasonal conditions and higher fuel and fertiliser costs.
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has forecast the gross value of agricultural production will reach $99.4 billion in 2026-27.
The figure would be the second-highest on record, following agricultural production exceeding $100 billion in 2025-26.
When fisheries and forestry are included, the combined value of production is forecast to exceed $105 billion.
ABARES has also forecast the value of Australia’s agriculture, fisheries and forestry exports to reach $80.8 billion in 2026-27, which would be the third-highest result on record.
The forecast comes as producers face higher input costs and difficult seasonal conditions, with the Federal Government saying disruption linked to the war in the Middle East is also affecting fuel and fertiliser costs.
Agriculture Minister Julie Collins said the forecast demonstrated the resilience of Australian producers.
“This latest forecast shows that despite challenging seasonal conditions and disruption from the war in the Middle East which is impacting globally, our agricultural production value continues to remain strong,” Ms Collins said.
She said the Government would continue working with farmers and producers on trade opportunities and support measures.
Assistant Agriculture Minister Anthony Chisholm said producers were continuing to adapt to changing climate and geopolitical conditions.
The Government said it was investing more than $14 billion through its Strengthening Australia’s Fuel Resilience package, which includes measures aimed at securing fuel and fertiliser supplies.
It is also providing an additional $1 billion in concessional loans through the Regional Investment Corporation from this financial year.
According to the Government, farmers saved about $34 million in interest payments during the first half of 2026 through Regional Investment Corporation lending.
Mr Chisholm said the Government would continue working with industry to improve productivity, expand market opportunities and maintain Australia’s competitiveness in global agricultural markets.
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