Looking ahead to a new year and what’s in store for the Agribusiness and farming community with the often unpredictable and very challenging extremes and variables of Australian weather, world economics and commodity prices – to name just a few – can be simultaneously daunting and exciting.
So what do things look like for the industry in 2018 and where are we heading?
Many experts seem to agree that the industry is performing relatively well despite the often difficult circumstances and this looks set to continue.
According to the latest commodities report by the Australian Department of Agriculture and Water Resources (ABARES), there is a mixed forecast on the farming front with poor climate conditions in grain growing regions contributing to the gross value of farm production being forecast to reach $59 billion in 2017-18 (down 7% from the previous year).
Canstar’s industry outlook report for 2017-2018 covers each of the farming sectors analysing how they performed and what to expect for the next year and we’d like to share some pointers and excerpts from their report showing they’ve discovered as a result of industry surveys conducted.