Queensland primary industries boom defies expectations

The value of Queensland’s agricultural production continues to rise in defiance of the drought and ahead of previous expectations.

Minister for Agriculture and Fisheries Leanne Donaldson has told Parliament the latest AgTrends forecast for primary industry commodity values in Queensland this financial year is $17.32 billion.

“That’s an increase of 3% on the $16 billion estimate I reported to Parliament as recently as February,” the Minister said.

“The forecast includes gross value of production at the farm gate and first-round processing and is 16% greater than the average value for the past five years.

“Queensland’s farmers continue to defy the drought and expectations.

“If the latest AgTrends forecast is realised it will mark 15% growth for Queensland producers in 2015-16.

“That’s great for our economy and great for job creation and security in rural and regional Queensland.

“Our producers continue to reap the benefits of their innovation, ingenuity and hard work.”

Minister Donaldson said the value of mung bean production was now more than three times the previous estimate at $145 million.

“While yields are down slightly, there has been a big increase in mung bean plantings and price.

“Likewise the gross value of production for winter barley is $92 million, an increase of 70% on the previous forecast.

“Higher than expected yields of wheat have lifted that crop’s value to around $410 million, 33% higher than previously predicted.

“The value of cotton, soybeans, aquaculture, chickpeas, pigs, sweetcorn and wool are all up too.

“These are boom days for the cattle and calves sector which is on track to record 31% growth in 2015-16

“On behalf of the Palaszczuk Government I would like to thank all those producers who have continued to battle through the drought.

“Many farmers are now in their fourth consecutive year of a drought that is affecting 84% of the state.

“Their value to Queensland’s economy cannot be overstated.”

The full AgTrends update is available at https://www.daf.qld.gov.au/business-trade/agtrends

ENDS

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