JOINT MEDIA RELEASE
Australia’s farm gate production value is forecast to exceed $100 billion this financial year – four years ahead of the National Farmers Federation’s 2030 target, and a record result proudly backed by the Albanese Labor Government.
The latest forecasts from the Australian Bureau of Agricultural Resources Economics and Sciences (ABARES) released today show Australia’s agricultural production value will hit a record $101.4 billion in 2025-26, and $107.4 billion when combined with fisheries and forestry.
ABARES forecasts show agriculture, fisheries and forestry exports will reach a record high of almost $85 billion in 2025-26, with more demand than ever for Australia’s world-class food and fibre.
This significant milestone is a testament to the hard work, resilience and skill of Australia’s farmers.
The Albanese Labor Government has worked tirelessly to support this work, securing the removal of trade barriers, including $20 billion worth of trade with China, and delivering more market access opportunities for Australia’s farmers and producers.
In 2018, the National Farmers Federation (NFF) released its 2030 Roadmap, detailing its vision for agriculture to become Australia’s next $100 billion industry – with Agriculture worth around $88 billion when the Albanese Government came to office in 2022.
Since then, the value of Australia’s agricultural production has increased by 15 per cent, with agricultural exports now able to reach around 190 markets – the most diversified trade has ever been.
The latest ABARES data, and the forecast of agriculture exceeding the NFF’s 2030 target by four years, reaffirms the Albanese Labor Government’s work to expand trade opportunities for our farmers, support more regional jobs, and to strengthen local economies.
It is the result of strong advocacy from the NFF to secure the best long-term outcomes for Australia’s agriculture industry, our farmers and producers.
The Albanese Labor Government will continue collaborating with the NFF and industry to back the success of Australia’s proud farmers and producers.
Quotes attributable to Minister for Agriculture, Fisheries and Forestry, Julie Collins MP:
“This forecast gives Australians 100 billion reasons to thank our farmers, whose hard work, resilience and skill is helping power our national economy.
“It shows that the Albanese Labor Government’s work to diversify trade opportunities is helping our farmers and producers to export more of Australia’s world-class agricultural products than ever before.
“Being on track to exceed industry’s $100 billion target by four years is a tremendous result for our farmers and regional communities, and it’s what you can achieve when Government works together with industry to progress their priorities.
“As we celebrate this significant milestone, we also reaffirm our commitment to supporting our farmers and producers during difficult conditions, because we will always have their back.”
Quotes attributable to Assistant Minister for Agriculture, Fisheries and Forestry, Senator Anthony Chisholm:
“Australian farmers operate under difficult and ever-changing conditions yet continue to deliver more for our nation’s economy than ever before.
“This year’s outlook is a remarkable achievement and a testament to the immense resilience and skill of Australia’s agricultural workforce.
“The Albanese Government will always work to ensure Australians can gain the skills they need for good, secure jobs that help keep Australian agriculture strong.
“Agriculture touches every one of us – our Government recognises this and remains as committed as ever to growing our agriculture sector and giving Australian farmers every opportunity to thrive.”
Quotes attributable to President of the National Farmers Federation, Hamish McIntyre:
“This is a landmark moment for Australian agriculture. In 2018, $100 billion was seen as ambitious. Today we’re forecast to reach it ahead of schedule.
“This shows agriculture is an industry worth backing, because when we set a goal, we deliver.
“This milestone wasn’t handed to us, but earned through droughts, fires and floods, through a pandemic and global trade disruption.
“It’s important to remember, our target has never been just about chasing a headline number. It is underpinned by a detailed roadmap that places farmer wellbeing, sustainability and natural capital alongside productivity and profitability.
“We could not have achieved this without strong collaboration from our members, governments and the supply chain partners who all backed our vision. But above all, this belongs to Australian farmers.
“It proves Australian agriculture can compete with the best in the world.”
Stacey Davidson
Ashleigh Whittaker