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In 2014, drought in major northern cattle regions significantly increased turnoff and reduced the size of the cattle herd.
Australia is one of the world’s leading wine producers and exporters. Production for the 2015 wine vintage is forecast to rise to 1.6 million tons of grapes.
Australia will revise its scrutiny of foreign purchases of agricultural land by reducing the monetary screening threshold applied to foreign investment acquisitions from A$252 million to A$15 million
Over late 2014, prospects for Australian winter grains crops worsened as a result of continued dry weather. Both yields and the volume of production were affected.
The China-Australia FTA is the main news story with Australia expected to gain significant new market access into China after the agreement’s implementation in 2015.
Citrus is one of Australia’s foremost horticultural industries and the largest exporter of fresh fruit.
Australian policies on agriculture are currently being reviewed by the federal government and a White Paper is set for completion in 2015 in order to provide a new policy platform for the sector.
The Australian dairy and dairy products industry is still recovering from drought and the volume of milk production is expected to be around 9.6 million metric tons in 2015.
Australian wheat production for 2014-15 is expected to fall to 24 million tons due to lower than expected rainfall and declining yields.
The Australian federal government is very supportive of biotechnology and has committed considerable long-term funding to research and development.
Drought in major cattle regions in Australia has significantly increased slaughter and production as producers bring forward turnoff, depressing domestic prices but boosting exports.
Australian sugar production is projected to grow to 4.6 million tonnes in 2014-15 with sugar cane acreage up slightly.