Farmers set for $70b windfall

Australian farmers are on track to deliver $70 billion of value for the first time, with bumper harvests and higher prices for most commodities outweighing challenges posed by mice plagues and labour shortages.

Favourable weather conditions will help lift the agriculture sector’s gross value of production (GVP) to $73 billion this financial year, according to forecasts by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).