Australian agricultural exports worth $49.6 billion in 2020-2021

Published Sep 7, 2021

Tridge summary

Australia's cropping exports have surged 73.3% to the second highest year on record at $13.2 billion, due to increased supply and doubled export volumes. Despite a marginal decline, total Australian agricultural exports reached $49.6 billion. Dairy and cropping were the only commodities to experience export value growth, with China being the largest dairy and wool export market. However, beef, sheep industry exports, and wine exports declined. Despite restrictions, the coming year is expected to be positive for red meat, dairy, wool, horticulture, and wine, with growth into various markets and the implementation of free trade agreements with the European Union and UK.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australia's cropping exports have surged 73.3 per cent to the second highest year on record at $13.2 billion. More favourable growing conditions across the country led to an increase of supply, with export volumes doubling to sit on 33.4 million tonnes. The positive result was released on Tuesday in Rural Bank's Australian Agricultural Trade 2020-2021 report. According to Rural Bank, total Australian agricultural exports held firm to reach $49.6b, a marginal decline of 0.8pc from the previous year. Cropping was one of only two agricultural commodities, the other being dairy, to experience export value growth in the 2020-2021 financial year. Dairy experienced its fourth consecutive year of growth, increasing 7.3pc on the 2019-2020 financial year to $2.7b. An increase in milk production supported a rise in export volumes for all dairy commodities except cheese, offsetting the impact of declines in average export prices. Once again China was Australia's largest dairy export market ...

Source: Farmweekly