By The Financial District
Aussie Crop Harvest To Surge Due To Heavy Rains
Heavy rains, which were blamed for some food shortages in Australia, have also given crop exports a boost. The country's farmers are predicted to see their most valuable year ever, Annabelle Liang reported for BBC News.
Photo Insert: Agricultural exports are forecast to hit a record $75 billion (£62.3-billion) in the year to the end of June.
Agricultural exports are forecast to hit a record $75 billion (£62.3-billion) in the year to the end of June, according to the Australian Bureau of Agricultural and Resource Economics (ABARES).
The Ukraine war has pushed up the price of goods including wheat, Australia's biggest agricultural export.
"We have been incredibly lucky. That high level of production is certainly due to rains, but also having rains at the right time," Tony Bacic, director of the La Trobe Institute for Agriculture and Food in Melbourne, told the BBC.
"The stars were aligned. If the rains had come a bit later or had not dried out in time, we could have lost a major crop," he added.
"Once again, we're seeing record levels of production, driven by exceptional growing conditions and high commodity prices," ABARES' Jared Greenville said in a statement on Tuesday.
"National winter crop production has driven much of these results, with the winter crop estimated at a new record of 67.3 million tons in 2022-2023," he added.
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