Australian agriculture outlook 2023

In Rural Bank’s latest agriculture outlook, strong production is forecast across most agricultural commodity sectors over January to June, though the heavy rainfall and flooding events on the east coast are expected to negatively impact the quality of cropping, wool, and horticultural sectors.

Agricultural commodity prices are expected to remain broadly above historical averages, though strong production will begin to weigh on values as the year progresses.

This combination of strong production estimates and high commodity prices counterbalanced by quality issues, global economic challenges, and high production costs, has resulted in a more mixed outlook for Australian agriculture over the first half of 2023.

Rural Bank’s Australian agriculture outlook report analyses six major commodities. The report is available to our Rural Bank Insights subscribers. Subscribe to access the report.