Australian agricultural exports projected to hit record high

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The value of Australian agricultural exports is expected to hit a record high in the next financial year, according to government projections.

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) recently published the latest Australian Crop Report, revealing that agricultural exports will hit 65 billion Australian dollars (46.6 billion U.S. dollars) in the financial year 2022-23.

Crop exports alone are projected to account for 39.8 billion Australian dollars, 61 percent of the total, and livestock the remaining 25 billion Australian dollars. Grain prices are projected to be exceptionally high driven by poor conditions in growing regions and the conflict in Ukraine.—Xinhua

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