Australia’s farm gate production value is forecast to exceed $100 billion this financial year – four years ahead of the National Farmers Federation’s aspirational 2030 target set back in 2018.

Latest forecasts released during today’s Australian Bureau of Agricultural Resources Economics and Sciences conference show agricultural production value will hit a record $101.4 billion in 2025-26, and $107 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.

Roadmap

In 2018, the National Farmers Federation released its 2030 Roadmap, detailing its vision for agriculture to become Australia’s next $100 billion industry – being worth around $88 billion in 2022.

Since then, the value of Australia’s agricultural production has increased by 15 percent, 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, follows strong advocacy from the NFF to secure the best long-term outcomes for Australia’s agriculture industry, our farmers and producers.

Hamish McIntyre, National Farmers Federation President.

National Farmers Federation president Hamish McIntyre said the this was 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,” Mr McIntyre said.

“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.”

Federal Agriculture minister Julie Collins said the ABARES forecast gave Australians 100 billion reasons to thank farmers, whose hard work, resilience and skill is helping power our national economy.

“Being on track to exceed industry’s $100 billion target by four years is a tremendous result for our farmers and regional communities,” she said.

“As we celebrate this significant milestone, my government also reaffirms its commitment to supporting our farmers and producers during difficult conditions.”

“Australian farmers operate under difficult and ever-changing conditions yet continue to deliver more for our nation’s economy than ever before,” assistant agriculture minister Sen Anthony Chisholm said.

“This year’s outlook is a remarkable achievement and a testament to the immense resilience and skill of Australia’s agricultural workforce. 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.”