Australian Farmers Set to Achieve Record $73 Billion Season

Australian Farmers Set to Achieve Record $73 Billion Season
Farmer inspects a dead Barley crop on his farm in Parkes, Australia, on Oct. 25, 2006. Ian Waldie/Getty Images
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Australian agricultural producers are expecting a record-breaking harvest this season due to a perfect combination of price increases and higher production volumes.

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) upgraded its 2021-22 financial year agriculture forecast to $73 billion (the U.S.$53.5 billion).