Farming smarter lifts Australian agriculture to $100bn record

Australia’s agriculture sector is on track to deliver a record-breaking year, with farm-gate value across agriculture, fisheries and forestry production expected to hit a combined value of $101.6 billion in 2025–26, according to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). 

China’s re-entry into the Australian canola market has boosted short-term prospects, but industry watchers say the next decade will be defined by the agriculture industry’s ability to innovate and stay resilient. 

Staying competitive in international markets 

Agriculture remains one of Australia’s most powerful economic engines says CBA Agriculture Economist Dennis Voznesenski. 

“Australian farmers are rapidly innovating and scaling to stay competitive with international peers. The drive to stay relevant in a very competitive global market is helping grow the Australian agricultural sector,” he said.  

2025 is proving broadly positive for Australian farmers.

Despite droughts in parts of South Australia and Victoria, national winter crop production remains resilient. Wheat and barley prices have softened, but strong local yields provide optimism. Canola is a standout, and in November Australia loaded the first shipment of canola to China in five years. With this year’s canola crop possibly the second largest on record, the return of China is welcome news. 

Livestock is also holding firm, supported by global demand, Voznesenski said. “China’s appetite for beef remains healthy, and US imports are at record import levels.” 

Regional strength and diversity  

Few regions illustrate Australia’s agricultural scale and diversity better than Griffith in the Riverina. 

“One in four bottles of wine produced in Australia comes from Griffith,” Mayor Doug Curran said. “It’s also home to a third of the nation’s citrus.” 

Griffith is a prime example of the kind of diversity that makes Australian agriculture so resilient, CBA General Manager in Regional and Agribusiness Banking Josh Foster said. 

“From citrus and wine to grains and cotton, the Riverina shows how diversity and innovation keep regional economies strong.” 

“The biggest talking point in my community right now is opportunity" 
- CBA Agri exec Tom Rookyard 

Opportunity in an unpredictable future 

Across the country, farmers are balancing a mix of optimism and practical responses to challenges. In Northern NSW producers are feeling positive despite global market volatility, CBA Agri Executive Tom Rookyard said. 

“The biggest talking point in my community right now is opportunity. Beef prices in America are influencing our markets, and that’s turning into opportunity for producers out here,” he said. 

Further south, in Victoria’s northwest, resilience is the focus.  

“Right now everyone’s talking about how tough it is balancing rising input costs with unpredictable weather, whether it’s fuel, fertiliser or feed. We’re all trying to plan for a future that’s harder to predict,” said Gabriela Munari, CBA Agribusiness Analyst. 

Backing Australian Ag  

CBA National General Manager for Agribusiness Distribution, Roddy Brown said it’s the resilience and adaptability of Australian farmers – even in an unpredictable future - that sets them apart on the world stage. 

“Farming hasn’t been without its challenges, but there’s a real sense of optimism again. Seeing young people step up and take on the family business is inspiring, and the way technology continues to improve how we work is incredible to watch,” he said. 

“Regional producers are leading the world in adopting smarter, cleaner ways to grow. Whether it’s automation, precision farming, robotics or renewable energy, innovation is helping to increase productivity and keep Australian agriculture at the forefront of global markets.” 

National Agriculture Day: Standing with the Land  

Today is National Agriculture Day – an annual initiative recognising the vital contributions of Australia’s farmers, pastoralists and the many businesses and communities that support them. 

This year’s theme, Stand with the Land, captures the sentiment perfectly, says CBA Executive General Manager, Regional and Agribusiness Banking Kylie Allen. 

“Standing with the land also means standing with the people - the families, workers and regional networks who form the backbone of the industry,” she said. 

“We’re proud to stand with the land. We’ve been supporting Australian farmers and regional communities for more than a century. Whether it’s through tailored finance, local support, or simply being there when it matters most, we’re here to help regional Australia thrive.” 

As we mark National Ag Day today, it’s a moment to reflect on what farming is really about. Amid a year of drought, flood and uncertainty, Australian farmers continue to adapt and lead. That spirit will drive our nation’s agricultural future - and the sector’s vital contribution to the Australian economy. 

CBA’s Regional and Agribusiness Banking team includes more than 700 specialists across 70 centres, supporting over 12,000 customers with solutions for farmers and regional businesses.