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7503.0 - Value of Agricultural Commodities Produced, Australia, 2007-08 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 29/07/2009   
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SUMMARY OF FINDINGS


NATIONAL ESTIMATES

The gross value of total Australian agricultural production increased 20% from 2006-07 to $43.3 billion in 2007-08.

Most of the increase in the value of agricultural production was driven by increased crop production and higher average prices in 2007-08. This saw the falls of 2006-07 reversed by a $5.9 billion (33%) rise in the gross value of crops to $23.8 billion. The gross value of livestock slaughterings and other disposals was down 2% to $12.1 billion as the value of cattle and pigs dropped. During the same period, the value of livestock products increased by $1.5 billion to its highest value in recent years, $7.3 billion.

Marketing costs accounted for $2.9 billion (7%) of the total gross value of agricultural production in 2007-08.

Gross Value of Agricultural Commodities Produced - 2007-08
Graph: Gross Value of Agricultural Commodities Produced—2007–08



Crops

Improved conditions in 2007-08 saw increases in the production of broadacre crops and their associated prices. This was highlighted by the increase in the gross values of wheat (up by 102% to $5.3 billion), hay (up by 74% to $2.8 billion), barley (up by 116% to $2.2 billion) and grain sorghum (up by 257% to $977.4 million). In contrast, the value of rice continued to fall in 2007-08, down 87% to $7.3 million.

Continuing to recover from several poor harvests, production and average prices of grapes rose in 2007-08, pushing gross value up by 49% to $1.7 billion.


Livestock slaughterings and other disposals

The gross value of livestock slaughterings and other disposals decreased $232.3 million to $12.1 billion in 2007-08.

After the value increases of 2006-07, the gross value of cattle and calves slaughtered dropped 8% to $7.4 billion as average prices also fell. In contrast, decreased supply of sheep and lambs drove average prices up, so that the gross value of sheep and lamb slaughterings increased 5% to $2.2 billion.

In 2007-08, the gross value of pig slaughterings and other disposals fell 4% to $902 million as the number of disposals and average prices dropped slightly. The gross value of poultry slaughterings rose 26% to $1.6 billion as a result of increases in average prices.


Livestock products

In 2007-08, the gross value of livestock products rose 26% from 2006-07, to $7.3 billion. This total increase was largely driven by the average price of whole milk increasing by almost a half, which pushed the gross value up by 44% to $4.6 billion.


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