On The Land
19 July, 2023
Ag sector booming
QUEENSLAND’S agriculture and fisheries sector has broken another record valuation of $23.44 billion, according to the latest AgTrends data released last week.
The new high for the 2022-23 financial year eclipses the previous record of $23.37 billion in 2021-22, and follows continued strong investment in agriculture by the State Government.
Among the strongest growing commodities were Queensland’s world-class fresh produce, with apples, table grapes, pineapples, avocados, and bananas all in the top 10 for growth.
Beef remains king of the commodities in the State, with cattle and calves valued at over $6 billion in 2022-23, and meat processing estimated to be worth almost $2.8 billion.
Sugarcane and sugar processing reached a combined valuation of almost $2.5 billion, while the Gross Value Production (GVP) of raw cotton soared 26.4 per cent to over $1.5 billion.
The best performing commodities and Local Government areas for both size and fastest growth of GVP in Queensland were also revealed.
Toowoomba took out top spot for the largest GVP in the land, valued at almost $1.36 billion, and was also in the top 10 for growth, ranking sixth with a GVP increase of almost 5.8 per cent.
The Cairns region, which takes in the Tablelands and Mareeba Shire, was ninth on the Top 10 growth list, increasing its GVP by 4.33 per cent
By far, the fastest growing region was the Lockyer Valley, the value of its ag sector surging, up nearly 42 per cent on last year’s GVP off the back of strong recovery from the 2022 floods.
Bundaberg was also a major success story, with the region coming in third for GVP ($837 million) and second for growth of GVP, up 10.1 per cent.
Minister for Agricultural Industry Development and Fisheries and Minister for Rural Communities Mark Furner said the State’s produce was world class.
“So, it’s no surprise our State’s ag sector is breaking records,” he said.
“Despite challenges presented by Covid and floods, our agribusinesses continue to go from strength to strength.
“The Palaszczuk Government’s strong support of Queensland’s primary producers continues through investment in research and development, disaster preparedness, AgTech, and strong biosecurity protections.
“We’re continuing to create jobs and back primary producers with sound investments through our Rural Economic Development Grants, which have supported about 2,500 jobs and provided about $12 million to our primary producers.”
The latest Queensland AgTrends data is available at:https://www.daf.qld.gov.au/news-media/campaigns/data-farm/primary-industries
