SYDNEY, AUSTRALIA — Despite disruptions and an 8% reduction in average grain production over the past five years, the annual gross value of the Australian grains industry rose 1% to A$1.29 billion, according to a study released on Oct. 19 by Grain Growers Ltd.
The study, entitled “State of the Australian Grains Industry” (SOTI), found that the grains industry contributed on average 22% of Australia’s agricultural gross value of production per year in the last five years. This makes it Australia’s second-largest agricultural industry and a vital component of the ambition to achieve A$100 billion at the farm gate by 2030.
“The report highlights how resilient and dynamic the Australian grains industry is, underpinned by thousands of innovative growers,” said Brett Hosking, chairman of GrainGrowers. “To have maintained the value of production and continuing to be a major contributor to Australia’s society and economy in the face of severe drought, global pandemics and market forces outside grower control is an impressive achievement.”
He described the third SOTI report as a “ready reckoner of the Australian grains industry.”
“Over the past five years, we’ve seen seasonal and market volatility, as growers faced some of the driest years ever recorded in some states, along with a bumper season that saw record production,” Hosking said.
Further insights from the SOTI report include the rise of pulses over the past five years with a surge in volume and value of pulse production. Average annual production rose by 20% and value increased by 71%. The report also showed the ability of the grains sector to recalibrate between servicing domestic needs in drought years and global markets in good seasons.