Record breaking run for agriculture to finish with winter crop manufacturing down
* The total worth of the agriculture sector is about to contract by 14 per cent in 2023-24 as a consequence of drier than regular situations
* Exports are anticipated to fall by 17 per cent to $65 billion because of decrease crop yields however nonetheless the third highest outcome on report
* Winter crop manufacturing to fall by 34 per cent to 44.9 million tonnes in 2023-24 from report manufacturing quantity final 12 months
* At the identical time, home costs for many crops are anticipated to fall
* The outlook is the primary detailed have a look at winter crop manufacturing for 2023-2024
* Summer crop manufacturing in 2022-23 to stay above common however under final season’s report
* Good news for some sectors together with horticulture with manufacturing anticipated to extend by $1.5 billion to succeed in a report $18 billion
* The wine business is about to rebound, with wine grape manufacturing to develop by $174 million to hit simply over $1 billion
* The worth of livestock manufacturing is predicted to lower by two per cent to $35 billion in 2023-24 due to decrease costs
* Inflation stays a danger for producer earnings and can also be anticipated to weigh on client demand
Source: www.perthnow.com.au
