ABARES: Crop production set to drop
Both summer and winter crop production are set to fall from record highs in 2023-24, according to new projections from ABARES. See the latest.
After a couple of bumper years, winter crop production is tipped to fall 32 per cent in 2023-24.
The Australian Bureau of Agricultural and Resource Economics and Sciences March 2024 Crop Report outlined the new projections this week.
Summer crop production was also forecast to fall 17 per cent to 4.3 million tonnes in the current growing period.
NSW Farmers grains committee member, Matthew Madden farms east of Moree and said there was generally a feeling of optimism in agriculture and the falls came off a high base.
He said there had been consecutively high-yielding years in the eastern states.
“It’s a season for the haves and have-nots,” he said.
Mr Madden conceded some areas had not fared as well, but there were opportunities for that to balance out.
He said the trading markets were currently a bit softer, and there was some concern over that, but overall, people were pleased to report good soil moisture.
Despite the estimated falls from ABARES, the projections are still above the 10-year average.
In the commodity breakdown, wheat production was estimated to fall 36 per cent to 26 million tonnes, coming in at 2 per cent below the 10-year average.
Barley was estimated to drop 24 per cent to 10.8 million tonnes, 4 per cent below the 10-year average.
Meanwhile, canola was expected to decline 31 per cent to 5.7 million tonnes but remains above the 10-year average, and the overall yield was tipped to be the second highest on record. This is a revised update from December 2023, when the canola crop was described as the third largest on record.
In Victoria, production was forecast to reach 10.4 million tonnes, which was slightly below the record of 11 million tonnes set in 2022-23,
And the state’s overall production sits at 38 per cent above the 10-year average for 2022-23.
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