Minister for Agriculture, Fisheries and Forestry, the Hon Julie Collins MP
Assistant Minister for Agriculture, Fisheries and Forestry, Senator the Hon Anthony Chisholm
The Albanese Labor Government's continued work with our farmers and producers is helping to keep our food production and agricultural exports strong, with the value of Australia's agricultural production value forecast to reach almost $100 billion this financial year.
The latest forecast from the Australian Bureau of Agricultural Resources Economics and Sciences (ABARES) issued today shows the gross value of agricultural production is forecast to reach $99.4 billion in 2026-27, and more than $105 billion when combined with fisheries and forestry.
This forecast result is the second-highest on record, and follows Australia's agricultural production value exceeding $100 billion in 2025-26, four years ahead of industry's 2030 target.
ABARES forecasts show the value of agriculture, fisheries and forestry exports will reach $80.8 billion in 2026-27 - the third highest result, with strong demand for Australia's world-class food and fibre.
This continued success is a testament to the hard work, skill and resilience of Australia's farmers, fishers and producers.
It is backed by the Albanese Labor Government's work to diversify trade, strengthen our biosecurity system, and to help secure more fuel and fertiliser to keep our food production strong.
The ABARES forecast shows difficult seasonal conditions and higher costs for fuel and fertiliser driven by the war in the Middle East are set to impact on farm profits.
That is why the Albanese Labor Government has been working around the clock with our farmers, fishers and producers to strengthen their climate resilience, and to help them manage the disruption from the war.
This includes investing more than $14 billion towards the Strengthening Australia's Fuel Resilience package to secure more fuel and fertiliser and to boost Australia's sovereign capability.
The Government is also delivering an additional $1 billion in concessional loans from this financial year through the Regional Investment Corporation, with farmers saving around $34 million in interest payments in the first half of 2026 alone.
Quotes attributable to Minister for Agriculture, Fisheries and Forestry, Julie Collins MP:
"The work of Australian farmers, fishers and producers is central to Australia's economy and our trading relationships, which is why the Albanese Labor Government is proud to back them.
"This latest forecast shows that despite challenging seasonal conditions and disruption from the war in the Middle East which is impacting globally, our agricultural production value continues to remain strong.
"This is a testament to the hard work, resilience and commitment to excellence of our farmers, fishers and producers, who continue to provide people across Australia and the globe with world-class products.
"This forecast shows why we have worked so hard with our farmers and producers to manage the impact of the war in the Middle East - to keep our food production and agricultural exports strong.
"Our Government will always back our farmers, fishers and producers to succeed, from unlocking more trade opportunities, to ensuring we continue to have support available year-round to keep our food production strong."
Quotes attributable to Assistant Minister for Agriculture, Fisheries and Forestry, Senator Anthony Chisholm:
"This latest data shows that the value of our agricultural production is forecast to remain strong this financial year, thanks to the hard work and resilience of our farmers.
"Despite challenging climate and geopolitical conditions, our farmers continue to adapt, innovate and deliver for not only Australian communities, but for the countries that rely on our world-class products.
"The Albanese Government will continue working alongside industry to strengthen productivity, open new market opportunities, and ensure Australian agriculture remains globally competitive for generations to come."
