# Drought impacts Australia's farm production

> ABARES' latest Agricultural Commodities report estimates the value of 2018-19 farm production at $58 billion, down 4%, driven by eastern drought and poor winter crops. Production is projected to grow to $61 billion by 2023-24 if seasons return to normal.

- Date: 2019-03-06 · published 2019-03-06T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/60046-drought-impacts-australia-and-39-s-farm-production
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Drought-driven supply losses in eastern Australia support regional grain prices in the short term, while the projected recovery points to lower prices later as output rebuilds.

## Read by commodity

- WHEAT: neutral
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-03-04 | [Farm production expected to fall due to drought \| The National Tribune](https://feedsoft.ai/events/60045-farm-production-expected-to-fall-due-to-drought-the-national-tribune.md) | +0.7% | +5.2% |
| WHEAT | 2021-09-09 | [Australia may have hit peak farming acreage but production set to keep climbing - ABC News](https://feedsoft.ai/events/45034-australia-may-have-hit-peak-farming-acreage-but-production-set-to-keep-climbing.md) | +3.1% | +5.3% |
| WHEAT | 2024-07-30 | [India’s grain production remains strong \| World Grain](https://feedsoft.ai/events/29226-india-s-grain-production-remains-strong-world-grain.md) | +4.9% | -3.3% |
| WHEAT | 2023-06-19 | [Australia’s national wheat production dips while global crops prove ‘significantly’ bigger than expected  \| Countryman](https://feedsoft.ai/events/35435-australia-s-national-wheat-production-dips-while-global-crops-prove.md) | +2.6% | +0.5% |
| WHEAT | 2023-10-22 | [Mint Primer: Making sense of India’s record food production \| Mint](https://feedsoft.ai/events/33583-mint-primer-making-sense-of-india-s-record-food-production-mint.md) | -2.5% | -4.8% |

## Sources

- foodprocessing.com.au: https://www.foodprocessing.com.au/content/processing/news/drought-impacts-australia-s-farm-production-1356723165

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.