Australian Agricultural exports are expected to break record high this financial year and reach $75 billion, the federal Australian Bureau of Agricultural and Resource Economics (ABARES) predicted on Tuesday.
ABARES’s executive director, Jared Greenville added that crop production is expected to reach 67.3 million tons in 2022-2023, for the high rainfall occurring for the third year in row.
This has provided “exceptional growing conditions.” Export revenues were further enhanced by “high commodity prices.”
The Russian-Ukrainian war caused an increase in commodity prices in general and wheat in specific; which is Australia’s largest agricultural export.
Additionally, a rare weather phenomenon named La Niña caused increase of rainfall in the eastern region of Australia.
Tony Bacic, director of the La Trobe Institute for Agriculture and Food in Melbourne explained how the right timing for rain is also crucial for a flourishing harvest season.
“The stars were aligned. If the rains had come a bit later or hadn’t dried out in time, we could have lost a major crop,” he told BBC.
Sonia Akter, a senior lecturer at the Australian National University, expected the next season would not probably be as good as the current one since “the climate forecasts suggest drier weather.”
