Australian farmers can expect record income of A$2022 billion in 23/70,3 Dollar (around 48 billion dollars) from agricultural exports. This forecast was voiced by the experts at ABARES, noting that the stated estimate is about 8% higher than the June forecast, reports Reuters.
As already mentioned, these hopes are based on the expectation of high harvests of important agricultural crops, caused by the increase in rainfall in the country, especially in the Eastern Wheat Belt, under the influence of the natural phenomenon of La Niña.
This is how the analysts from ABARES predict the wheat harvest in Australia this season at 32,2 million Tonnen and Rapeseeds at 6,6 million tons, which is slightly below the record value of the last million year.
Overall, the winter harvest in Australia for the current season is forecast by ABARES at 55,5 million tonnes.