The gross value of Australian crops increased by 6% to $20.0 billion in 2011-12.
The gross value of wheat increased by 7% nationally, to $7.5 billion. This was a smaller than expected rise due in part to flooding, and competition from a strong sorghum crop, which saw a 15% increase in production nationally and an 8% increase in value, up to $446 million. The value of wheat was greatest in Western Australia, which doubled to $2.8 billion since 2010-11 due to increased production in that state.
Generally favourable seasonal conditions resulted in increased yields for the majority of crops nationally, increasing their value. These included cotton (up by 20% to $2.3 billion), canola (up by 32% to $1.7 billion), tomatoes (up by 21% to $507 million) and rice (up by 46% to $254 million).
The value of oats was up by 16% (to $256 million) driven primarily by increased production but also influenced by heavy demand from overseas, particularly Asia, which boosted local prices.
Despite these increases in value, good growing conditions were also responsible for overproduction of some crops. Victorian apple suppliers, who grow the majority of the nation's apples, have experienced some of the lowest prices in a decade falling 32% (to $424 million) from 2010-11 as demand for apples dropped because of oversupply.
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