Australian agriculture is marching closer to its $100 billion goal with the sector forecast to reach $94.7 billion in 2025-26, according to the latest forecast from Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
NFF President David Jochinke said despite the sector taking a hit from droughts, floods and uncertainty from global trade disruptions, farmers had held a steady hand.
“The lift is largely underpinned by strong livestock prices, but credit must be given to calm approach by the government and industry on the tariff turbulence.
“Most of all, the result is also a reflection of blood, sweat and smart investment from farmers.”
Mr Jochinke said with the 2030 Roadmap goal within reach, now was the time for smart policy to get the sector over the line.
“We need to seize opportunities in front of us, like the EU FTA, ensuring they deliver meaningful market access for Australian agriculture. This will be a smart move toward value-adding and market diversification.
“Proposed federal tax and environmental reforms must build on this momentum. Sensible reform that cut red and green tape, promotes competitiveness and encourages investment into innovation will pull us closer to $100 billion.
“Policies proposals that do not adhere to best practice principles, such as taxing unrealised gains, risks sending this trajectory backwards.
“If government can back agriculture with the right policy settings, farmers will do the rest.”
Ashleigh Whittaker
Stacey Davidson