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Insights March 2021 - All commodities

8 March 2021 |Insights
Farm equipment on field

Insights March 2021 - All commodities

8 March 2021 |Insights

Australia’s seasonal labour shortage continues to impact fruit and vegetable growers as $50 million in produce is lost nationally.

Australian fruit and vegetable growers have lost more than $50 million in produce as the seasonal labour shortage continues. This comes as international backpacker numbers fall below 50,000 – significantly less than the 140,000 living and working in Australia prior to COVID-19 – and production levels increase across a number of varieties thanks to favourable growing conditions, heightening the need for labour.

National cropping production estimates increased month-on-month with wheat at 33.7 million tonnes, barley 12.1 million tonnes and canola 4.3 million tonnes, while milk supply is also expected to increase as autumn conditions set in across the country. 

Australian lamb prices are expected to remain well supported by strong restocker demand, while wool prices continued to trend upwards over the past month. However, Australian young cattle prices may have passed their peak after supply increased in February following a sluggish start to 2021.

The Rural Bank Insights team provides research and analysis based on the latest data, trends and news. Throughout the year the team produces timely and relevant reports to support business decisions on farm.

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