Australia’s farm gate production value is forecast to exceed $100 billion this financial year, four years ahead of the National Farmers Federation’s 2030 target.
New figures released by the Australian Bureau of Agricultural and Resource Economics and Sciences show agricultural production is expected to reach a record $101.4 billion in 2025–26. When combined with fisheries and forestry, the total is forecast to hit $107.4 billion.
Exports across agriculture, fisheries, and forestry are also tipped to reach a record high of almost $85 billion in 2025–26, reflecting continued strong global demand for Australian food and fibre.
Minister for Agriculture, Fisheries and Forestry Julie Collins said the milestone was a significant achievement for the sector.
“This forecast gives Australians 100 billion reasons to thank our farmers, whose hard work, resilience, and skill is helping power our national economy,” Ms Collins said.
The result comes four years ahead of the NFF’s 2030 Roadmap goal for agriculture to become a $100 billion industry. When the current government came to office in 2022, agriculture was worth around $88 billion. Since then, the value of production has increased by 15 per cent.
NFF President Hamish McIntyre said the latest forecast marked a defining moment for the industry.
“This is a landmark moment for Australian agriculture. In 2018, $100 billion was seen as ambitious. Today we’re forecast to reach it ahead of schedule,” Mr McIntyre said.
“This shows agriculture is an industry worth backing, because when we set a goal, we deliver.”
The government has pointed to trade diversification as a key driver, including the removal of trade barriers and the restoration of $20 billion worth of trade with China. Agricultural exports can now reach around 190 markets, described as the most diversified trade profile the sector has achieved.
Ms Collins said expanding market access had helped boost export performance.
“It shows that the Albanese Labor Government’s work to diversify trade opportunities is helping our farmers and producers to export more of Australia’s world-class agricultural products than ever before,” she said.
Assistant Minister for Agriculture, Fisheries and Forestry Senator Anthony Chisholm said the result highlighted the strength of the agricultural workforce.
“Australian farmers operate under difficult and ever-changing conditions yet continue to deliver more for our nation’s economy than ever before,” Senator Chisholm said.
“This year’s outlook is a remarkable achievement and a testament to the immense resilience and skill of Australia’s agricultural workforce.”
Mr McIntyre said the milestone had been earned under challenging conditions.
“This milestone wasn’t handed to us, but earned through droughts, fires, and floods, through a pandemic and global trade disruption,” he said.
“It’s important to remember, our target has never been just about chasing a headline number. It is underpinned by a detailed roadmap that places farmer wellbeing, sustainability, and natural capital alongside productivity and profitability.”
The government said it would continue working with industry bodies, including the NFF, to support regional jobs and strengthen local economies.
“As we celebrate this significant milestone, we also reaffirm our commitment to supporting our farmers and producers during difficult conditions, because we will always have their back,” Ms Collins said.
Senator Chisholm said skills and workforce development would remain a focus.
“The Albanese Government will always work to ensure Australians can gain the skills they need for good, secure jobs that help keep Australian agriculture strong,” he said.
“Agriculture touches every one of us – our Government recognises this and remains as committed as ever to growing our agriculture sector and giving Australian farmers every opportunity to thrive.”
Mr McIntyre said the achievement ultimately belonged to farmers.
“We could not have achieved this without strong collaboration from our members, governments, and the supply chain partners who all backed our vision. But above all, this belongs to Australian farmers.
“It proves Australian agriculture can compete with the best in the world.”
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