Harvest Issue 2021

Following two drought seasons, Australian growers have produced a record crop for the 2020-21 season at 59 million tonnes (Mt) and, if realized, latest estimates will see this season’s crop be even bigger. In its September Agricultural Outlook, ABARES forecasted Australian farmers to produce a record $73 billion of gross value during the 2021-22 season driven by favourable seasonal conditions, strong prices for grains, oilseeds, cotton, sugar and livestock. The value of grains, oilseeds & pulse production on its own is forecast to jump to a record $20.4 billion. This will be the highest gross value crop on record and is an amazing turn-around of events from only 2 years ago – the stars have really aligned this season for Australian farmers. In this issue we examine the extraordinary value of the two consecutive seasons of the Australian grain crop and look at how we got here and if it can it be sustained.