Tasmania's agricultural export value rises

Tasmania’s agricultural export value grew by 9.3 per cent during the 2024/25 financial year.

Bendigo Bank’s Australian Agricultural Exports Report found that Tasmania’s exports rose by $83.1 million to $979.3 million.

The state’s seafood exports increased by $147.7 million, while the dairy and sheep meat sectors experienced growth of $47.4 million and $31.1 million, respectively.

Tasmania made up 1.3 per cent of Australia’s export value of $77.2 billion, with only the Northern Territory contributing less.

Australian red meat exports in 2024/25 rose to an all-time high of $18.6 billion, but the cotton, sugar, wool, and vegetable sectors recorded declines.

Bendigo Bank Agribusiness Industry Affairs senior manager Neil Burgess said the forecast for the current financial year indicated that the majority of sectors will experience a slight decrease in export value.

“In FY25/26, we expect the largest decline in export value to be across the red meat sector, driven by lower volumes as favourable seasonal conditions see increased restocking and reduced slaughter rates,” Mr Burgess said.

“Winter crop production should be broadly in line with last season, although the value of cropping exports is forecast to see a slight decline due to reduced carryover stocks of barley and canola.   

“Despite the forecast decline in value, the outlook for Australian exports remains positive, with the total value expected to remain well above the five-year average, enabling robust value creation across the agricultural supply chain.

“Australia has managed to capture a large portion of the additional US import demand for red meat, and this is expected to carry over in FY25/26.”