Grain growers are expected to have another record-breaking year for Australian farm exports. June estimates for Australian agricultural production are expecting exports to hit $65 billion in 2022–23, slightly higher than last year’s figure.
Record-high grain prices, a wet summer and a favourable start to winter, plus poor seasonal conditions in other grain-growing regions, are apparently driving the numbers higher this season.
Ukraine has consistently been among the world’s top exporters of grain and oilseeds, but Russia’s invasion in March has restricted Ukraine’s exports and sent prices for those commodities skyrocketing.