The revenue from food and fibre sector exports are projected to surge to a record $50.8 billion.
The figure for the year to June 30, 2022, is an increase of 6 per cent over the previous year. It’s the first time forecasts have cracked $50 billion.
Agriculture Minister Damien O’Connor said it showed the future of the sector was bright.
O’Connor said the sector was meeting strong demand as consumers globally looked for healthy food and natural fibres.
“High demand for our dairy products combined with strong export prices are expected to deliver an estimated 10 per cent increase in dairy export revenue to $20.9 billion,” he said.
“Consumers can’t get enough of our fresh fruit and wine with demand remaining strong. This is driving an expected increase in export revenue of 5 per cent to $6.9 billion.”
Forestry exports are also expected to reach $6.7 billion to June 30, 2022, an increase of 3 per cent on the previous year.
Meanwhile, seafood export revenue is forecast to rise 4 per cent to $1.9 billion.
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