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Agricultural Exports Hit $50 Billion Despite Drought and COVID-19

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A new report shows the value of Australian agricultural exports exceeded $50 billion in the 2019-2020 year.

The figure represents the second most valuable year on record, despite a year-on-year decline of $601 million and the end of nine years of consecutive growth.

Livestock experienced the largest growth rate, with the value of cattle exports increasing 16.6%. Fruit (11.1%), sugar (9.8%) and dairy (2%) also recorded increases.

While there were some mixed results, Rural Bank's Chief Operating Officer, Will Rayner, says the figures demonstrate the resilience of Australia's farming sector.

 

 

 

 

Image credit: Matthais Zomer