Ranked: The top 50 ASX-listed agribusinesses so far this year

The value of the nation’s top 10 ASX-listed agribusinesses has surged to more than $29 billion collectively after a strong start to the year. See the full list.

Some of Australia’s top agribusinesses have outpaced the growth of the ASX in the past year, rebounding from the seasonal and economic challenges of last year.

A The Weekly Times analysis earlier this year measured the top 10 ASX-listed agribusinesses at $26bn - but by the close of trading on Monday, July 15, their value had risen to more than a combined $29bn.

Top performers so far this year include Treasury Wine Estates, the largest ASX-listed agribusiness at a market capitalisation of $9.93bn. Forecasted to grow its earnings and revenue by 19.4 per cent and 9 per cent per annum respectively, the Treasury Wine Estates share price has climbed 15.89 per cent so far this calendar year to $12.40 by the close of trading on Monday, July 15.

Meanwhile the a2 Milk Company, now with a market capitalisation of $4.97bn, has been buoyed by strong returns in its New Zealand division, reporting a 3.7 per cent increase in revenue to NZ$812.1m, which led to a surge of buyers in February.

a2 Milk’s increased revenue was underpinned by its continued expansion into China and other Asian markets, with sales up 16.5 per cent in those regions. Its share price is $6.86, a 62.95 per cent increase since the beginning of the calendar year.

a2 Milk CEO David Bortolussi. Picture: Britta Campion (The Australian).

GrainCorp has also recorded a noticeable increase in value, following a 20.28 per cent increase in its share price since the beginning of the calendar year, despite a major drop in forecasted earnings.

Earlier this year the grain trader reported it expected full-year underlying earnings before interest, tax, depreciation and amortisation to range from $250 to $280m, a downgrade on February’s expectation of $270 to $310m.

However, investors were encouraged by GrainCorp’s strong core cash position of $495m, up $146m year on year, and the reduction of its net debt from $1.42bn to $765m, year on year.

GrainCorp managing director and CEO Robert Spurway. Picture: Nikki Short

“As expected, we have experienced a decline in overall production across East Coast Australia and lower supply chain and crush margins relative to 1H23,” GrainCorp managing director and CEO Robert Spurway said earlier this year.

“Strong volumes in southern NSW and Victoria have been offset by below average conditions in Queensland and Northern NSW.

“Early indications are showing recent rainfall and a healthy soil moisture profile have supported a strong planting period in (east coast of Australia), with northern regions expected to rebound from 2023-24.”

Investors are also keeping a close eye on the battle to buyout the nation’s largest cotton ginning company, Namoi Cotton, which has seen its share price increase by 37.5 per cent since the start of the calendar year after competing offers to purchase from the Louis Dreyfus Company and Olam Agri.