This survey provides data on the financial performance of broadacre farm businesses and their associated production characteristics. The survey also provides the main means of monitoring and analysing productivity growth in the grains industry sector.
Summary of key issues:
- Cropping receipts are projected to increase in New South Wales, Queensland and South Australia. A reduction in crop receipts is estimated for Victoria and Western Australia as higher grain prices are not expected to overcome reduced production in these states. Total cash costs are projected to remain about the same in 2012-13.
- While average farm cash income (the difference between receipts and costs) for grain producing farms is projected to decrease by 7 per cent in 2012-13 to $151 000, this is still 35 per cent higher than the 10 year average to 2011-12 (in real terms). Average yields across Australia were lower than in 2011-12, as a result of lower production for most farms, but prices for grains, oilseeds and legumes were higher.
- In 2012-13 farm cash income is projected to increase by 47 per cent in the Northern agroecological region to an average of $130 000 per farm, but decline in the Southern and Western agroecological regions by 10 per cent and 24 per cent, or to an average of $151 000 and $202 000 per farm, respectively.
- The capital value of grain producing farms in 2012-13 is estimated to be, on average, $3.9 million. This decrease of 6 per cent from 2011-12 is mostly due to lower land values. Increases in farm debt have moderated and farm equity remains strong.